President Bola Tinubu’s initiative on the Students Loan Bill has garnered praise from Nigerians, marking a significant stride in providing access to higher education for economically disadvantaged students.
The passage of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024 by the Nigerian Senate on Wednesday underscores a crucial move towards easing the financial burden on students pursuing tertiary education.
Senator Muntari Dandutse, chairing the Senate Committee on Tertiary Institutions and TETFUND, presented the pivotal report leading to the adoption of the bill during the March 20 plenary session. In an effort to expedite the legislative process, the Senate suspended specific sections of its standing rules, directing the bill to the Committee of the Whole for immediate consideration.
While the enactment of the Student Loans Bill has garnered widespread approval, Tribune Online highlighted certain exclusions outlined in the law. The legislation specifies five categories of individuals ineligible for the student loan:
1. Applicants with a proven history of defaulting on previous loans from any organization.
2. Applicants found guilty of exam malpractice by school authorities.
3. Applicants with a criminal record involving felony, dishonesty, or fraud.
4. Individuals convicted of drug offenses.
5. Applicants whose parents (either father or mother) have defaulted on student loans or any granted loan to them.