A day after the announcement of a temporary suspension of the commencement of the programme President Tinubu forwarded a letter to the National Assembly, seeking a repeal and re-enactment of the Act.
The Senate has passed the Student Loan (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, otherwise known as the Student Loan Act.
This resolution followed the consideration of a report on the Senate Committee on Tertiary Institutions and TETFUND, presented by the Chairman of the committee, Senator Muntari Dandutse (APC, Katsina South), during Wednesday’s plenary.
OrderPaper recalls that President Bola Ahmed Tinubu had earlier forwarded a letter to the Senate and the House of Representatives, seeking a repeal and re-enactment of the Act.
READ ALSO: Tinubu seeks repeal of Students Loans Act, seeks re-enactment
The letter came in during Thursday’s plenary at both chambers a day after the announcement of a temporary suspension of the commencement of the student loan programme aimed at enabling Nigerian students enrolled in tertiary educational institutions to obtain low-interest loans to finish their education.
The Bill which President Tinubu signed in June 2023 was to be launched on Thursday 14th March 2024 but was postponed indefinitely by the Federal Government as disclosed by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer.
However, there were several criticisms against the qualifying requirements for applicants, repayment plans, and governance structure following the law’s signing.
