President Bola Tinubu has removed the prerequisites for students in federal universities to obtain student loans.
On Monday, the presidency declared the intention via a tweet via its verified account, @NGRPresident.
According to the tweet, there would no longer be restrictions on who can access the loan, as the Student Loan Act proposed.
The presidency’s tweet read, “In line with his promise to ensure no Nigerian student abandons educational pursuits as a result of economic circumstances of their parents, President Tinubu has approved the removal of all restrictions on the Student’s Loan, to make it available to any student or family that may desire it.
“Similarly, President Tinubu has directed the authorities in all Federal Institutions of higher learning to avoid arbitrary increase in sundry fees payable, and where possible defer further increases, so that parents and students don’t face too many difficulties.”
In line with his promise to ensure no Nigerian student abandons educational pursuits as a result of economic circumstances of their parents, President @officialABAT has approved the removal of all restrictions on the Students’ Loan, to make it available to any student or…
— Presidency Nigeria (@NGRPresident) July 31, 2023
The Student Loan Act requires applicants to come from families with less than ₦500,000 annual income, get a level 12 civil servant and lawyer with over ten years post-call years as guarantors and get approval from their vice-chancellors.
