In Detail: Student Loans (Access To Higher Education) Act 2024

Source: Franktalk Magazine

• President Bola Tinubu signed the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024 into law.
• The aim is to ensure sustainable higher education and skill development for Nigerian students.
• The Act establishes the Nigeria Education Loan Fund (NELFUND) to provide loans for education and skills training.
• Governance is separated from management within the Fund.
• The Act defines the resource structure and changes eligibility criteria for loans.
• It ensures fair loan repayment and allows for loan forgiveness.
• These amendments are intended to enhance access to education and skills training, contributing to national development.

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Source of Image: Franktalk Magazine