President Bola Tinubu has assented to the Students’ Loans Bill to expand access to tertiary education.
Briefing State House correspondents on how the facility could be accessed, the Permanent Secretary, Ministry of Education, Mr Adejo Andrew, a Students’ Loans Board would be established to deal with the disbursement.
The Permanent Secretary said the loans would be interest-free, but that a cup would placed on them to make repayment easier.
Asked whether the loans to be granted would be a prelude to tuition fee increment, a member of the Presidential Strategic Team, Mr. Dele Alake, emphasised that they were unrelated, stressing that the grant is solely for the purpose of creating opportunity for indigent candidates to get education.
He explained that committees would be set up to oversee the efficient disbursement of the facility.