Tinubu Launches Student Loan Scheme

July 17, 2024

President Bola Tinubu has launched the Student Loan Scheme on Wednesday, July 17, marking the formal commencement of the programme’s implementation.

In an update on ‘X’ according to the Special Adviser on Social Media, Dada Olusegun, the launch of the student loan scheme is currently taking place at the State House, Abuja.

Recall that the President had a few weeks ago approved ₦35 billion for the scheme’s take-off, targeting 70,000 initial applicants.

The Governing Board of the Nigerian Education Loan Fund (NELFund), chaired by Jim Ovia, approved the disbursement of loans to successful applicants during its inaugural meeting in Abuja last month.

The student loan scheme, a flagship programme of the Tinubu administration, aims to provide financial support, including school fees and stipends, to eligible students nationwide.

Over 1.2 million students are expected to benefit from the first phase of the programme.