Lady Whistledown
JF-Expert Member
- Aug 2, 2021
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Rais Bola Ahmed Tinubu amesaini Sheria mpya ya mikopo ya kwa Wanafunzi, ambapo Wanafunzi katika Taasisi za Elimu ya juu kama vile Vyuo Vikuu na Vyuo vya ufundi wataweza kupata Mikopo isiyo na riba kutoka katika Mfuko wa Mikopo wa Elimu ya Nigeria kulipia ada ya masomo
Wanufaika wa Mikopo hiyo wanatarajiwa kuanza kulipa mara tu wanapopata ajira, baada ya kumaliza masomo yao, hatua inayotajwa kuwa msaada kwa mkubwa kwa Wanafunzi ambao waliacha chuo au kutafuta ajira za muda ili kugharamia masomo yao
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The new law offers students access to funds for their higher education at no interest Image caption: The new law offers students access to funds for their higher education at no interest. Nigeria’s new President Bola Ahmed Tinubu has signed into law a student loan bill, a first of its kind in the country, that offers financial support for poorer students in higher education.
Local students in tertiary institutions such as universities, colleges and polytechnics will now be able to easily get interest-free loans from theNigerian Education Loan Fund to cover tuition fees.In November, the Nigerian parliament passed thelegislation seeking to establish a national education bank to offer loansto students.
But former President Muhammadu Buhari failed toassent to the bill before leaving office on 29 May. No explanation was givenfor his inaction on this.
The bill was introduced in 2016 by Mr Tinubu's chief of staff, Femi Gbajabiamila, when he was the speaker of the House of Representatives. He now says the "future of the country" is guaranteed, adding that "no Nigerian child [will] be denied access to tertiary education on account of lack of financial resources".
Beneficiaries of the loan are expected to start repayment as soon as they gain employment, following the completion of their studies and mandatory national service. Before now, banks in Nigeria could only grant student loans to parents of the students with very stringent conditions.
Some students have had to drop out or get odd jobs to pay their way through college.
Wanufaika wa Mikopo hiyo wanatarajiwa kuanza kulipa mara tu wanapopata ajira, baada ya kumaliza masomo yao, hatua inayotajwa kuwa msaada kwa mkubwa kwa Wanafunzi ambao waliacha chuo au kutafuta ajira za muda ili kugharamia masomo yao
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Tinubu signs law on interest-free student loans
Local students in tertiary institutions such as universities, colleges and polytechnics will now be able to easily get interest-free loans from theNigerian Education Loan Fund to cover tuition fees.In November, the Nigerian parliament passed thelegislation seeking to establish a national education bank to offer loansto students.
But former President Muhammadu Buhari failed toassent to the bill before leaving office on 29 May. No explanation was givenfor his inaction on this.
The bill was introduced in 2016 by Mr Tinubu's chief of staff, Femi Gbajabiamila, when he was the speaker of the House of Representatives. He now says the "future of the country" is guaranteed, adding that "no Nigerian child [will] be denied access to tertiary education on account of lack of financial resources".
Beneficiaries of the loan are expected to start repayment as soon as they gain employment, following the completion of their studies and mandatory national service. Before now, banks in Nigeria could only grant student loans to parents of the students with very stringent conditions.
Some students have had to drop out or get odd jobs to pay their way through college.
