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Student Loan Scheme To Operate Online



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The Student Loan Scheme, which President Bola Tinubu approved in June, will be implemented online, according to Minister of State for Education Dr. Yusuf Tanko Sununu. 

News About Nigeria gathered that a specialised website is being developed for easy access.

Dr. Sununu shared this information during an appearance on Arise TV, where he gave an update on the ongoing preparations for the scheme’s January 2024 launch.

In keeping with the government’s commitment to the project, N50 billion has been set aside in the 2024 budget to carry out the student loan programme.

Dr. Sununu reassured the people that the committee in charge of the program’s execution is working hard to guarantee that it launches on schedule.

“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,” he said.

Dr. Sununu addressed concerns over delivery and accountability, pointing out that several stakeholders, including parents, students, and international, local, and transnational organisations, have been closely observing the situation.

He underlined the government’s dedication to accomplishing the stated goals and gave his word that explanations would be given in the event of any unanticipated difficulties.

Prior to this, President Tinubu had stressed the importance of the student loan programme in transforming the financing of postsecondary education and putting an end to protracted strikes in the education sector.

“By January 2024, the new student loan programme must commence. For 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.”