The much-anticipated student loan scheme has now received budgetary allocation to ensure commencement next year
President Bola Tinubu has said the student loan scheme will become operational by January 2024.
He disclosed this on Wednesday during the presentation of the 2024 Appropriation Bill at the National Assembly in Abuja.
According to him, the scheme is a sustainable model for funding tertiary education, and increasing citizen’s access to higher education.
Describing the budget as the Renewed Hope budget, the president assured of his commitment to addressing longstanding issues within the education sector.
“To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024.
“Human capital is the most critical resource for national development. Accordingly, the budget prioritizes human development with particular attention to children, the foundation of our nation,” he said.
Tinubu also noted that the budget proposal meets the “goal of completing critical infrastructure projects which will help address structural problems in the economy by lowering the costs of doing business for companies and the cost of living for the average person.”
