POLITICS NIGERIA reports that this legislation aims to provide interest-free loans to financially disadvantaged Nigerian students, opening doors of opportunity for higher education.
The newly enacted law paves the way for the establishment of the Nigerian Education Bank. This institution will be vested with the authority to supervise, coordinate, administer, and monitor the management of student loans across the country. It will serve as the central hub for processing loan applications from students attending higher educational institutions in Nigeria. The bank will carefully screen these applications to ensure they meet all the necessary requirements outlined in the Act.
