The first phase of the student loan scheme has gone live, with the beneficiaries being students from federal institutions across the country. The PUNCH observed that the loan website became active some minutes past 12 am on Friday. Recall that President Bola Tinubu enacted an initial version of the student loan policy in June 2023 to grant interest-free loans to students. The scheme was to commence in October 2023, but implementation was repeatedly deferred until a re-enactment in April 2024. During pre-application sensitisation, NELFUND said the scheme’s pilot phase would only be open to federal tertiary institutions.

Source: Punch May 24, 2024 11:43 UTC