Dr. Yusuf Tanko Sununu, Minister of State for Education, has stated that the Student Loan Scheme, which was authorised by President Bola Tinubu in June, will begin in January 2024.
During an appearance on Arise TV on Thursday morning, Sununu reaffirmed the Federal Government’s commitment.
The Federal Government has budgeted N50 billion for the execution of its student loan plan in 2024. This was stated in the budget appropriation information for 2024.
Responding to questions about the status of the student loan scheme, which is due to start in January 2024, he said:
“I want to tell you that we are on track. The committee is working day in and day out.
“The whole thing is going to be online, not through physical access. A website that will make for easy access is being developed.
“We want trust in governance and trust must have a timeline. So it may take from January 1st to January 31st, but as much as possible, we will ensure that by the 31st of January, students can access it.”
“If for any reason we cannot deliver, we will explain. We know that, as far as student loans are concerned, we are being tracked by multinational, international and local bodies, even the students and parents. And I assure you that by the political will and trajectory of Mr President, that is achievable.”
At the 29th National Economic Summit in November, President Tinubu underlined the validity of the student loan plan as a method of funding tertiary education and increasing public access to higher learning.
He stated:
“By January 2024, the new students loan programme must commence. To the future of our children and students, we are saying no more strikes.
“To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024.”
cc: Punch Ng
