Nigeria launches automated student loan scheme

  • Video
  • February 27, 2024
  • 0 Comments

Nigeria launches automated student loan scheme

Tamarauemi Ebimini

The Nigerian Government has launched a student loan programme aimed at easing the financial burden of Nigerians pursuing tertiary education.

The government announced that the Education Tax, administered by the Federal Inland Revenue Service, will contribute to funding this newly established Student Loan Scheme.

It also stated that the scheme is designed to alleviate the financial burden faced by students pursuing tertiary education, including universities.

“One of the central pillars of President Bola Tinubu’s Renewed Hope Agenda is the implementation a students loan programme, aimed at alleviating the financial burden of Nigerian students particularly practically from the higher education until University,” the National Orientation Agency (NOA) said in a statement.

The scheme, according to the NOA, is slated to be fully automated, ensuring a streamlined process with no human intervention in loan application and processing.

It noted that prospective applicants can access a dedicated online portal or mobile application to submit their applications.

During this process, they will be required to provide essential details, including their JAMB registration number, date of birth, National Identification Number (NIN), and Biometric Verification Number (BVN).

Following loan approval, the allocated funds will be directly transferred to the educational institution, offering administrative benefits to the institutions involved.

“On February 22, 2023, a test run of the Student Loan app was conducted, preceding its official launch.”

  • Related Posts

    Faduyile advocates quality medical education as condition for UHC

    Faduyile advocates quality medical education as condition for UHC By Steve Ovirih. Distinguished Senator Prof. Dayo Faduyile, OON has described quality Medical Education as a pillar for achieving Universal Health…

    Fufore Mourns Second Council Chairman In 18 Months.

    Residents of Fufore Local Government Area in Adamawa State are mourning the death of their chairman, Yahya Saidu, less than two years after his predecessor died in office. Saidu’s death…

    Leave a Reply

    You Missed

    Senator Faduyile takes Aiyetoro ocean incursion to Senate

    Faduyile advocates quality medical education as condition for UHC

    Fufore Mourns Second Council Chairman In 18 Months.

    Fufore Mourns Second Council Chairman In 18 Months.

    Kogi Councillor Dies Days After Abduction.

    Kogi Councillor Dies Days After Abduction.

    2027 Elections: INEC Warns Candidates Over Vote Buying.

    2027 Elections: INEC Warns Candidates Over Vote Buying.

    Lagos Universities Resume Classes As ASUU Suspends Strike.

    Lagos Universities Resume Classes As ASUU Suspends Strike.