The Executive Secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono, has clarified that the launch of the student loan scheme has only been postponed for a couple of weeks and not indefinitely, News About Nigeria reports.
Echono made this assurance during a courtesy visit paid to him by the governor of Kwara State at the TETFUND headquarters in Abuja.
Addressing the delay in the launch, Echono stated that it is primarily to ensure that there are no complications in the proper implementation of the scheme and to guarantee that it meets the required standards.
His clarification followed an announcement by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, that the launch had been suspended indefinitely due to necessary corrections.
Echono clarified that the postponement is temporary, assuring that the delay is minimal.
“The loan has not been postponed indefinitely, there’s just a little housekeeping that needs to be done, the president has arrangements in place for the launch.
“We are discussing a matter of days, maximum weeks for it to take off. The president is very committed to this, and I can assure you that this is going to be done in the best way,” Echono said.
He assured that the scheme is being developed in close collaboration with the Joint Admissions and Matriculation Board (JAMB) to align with the commencement of admissions.
“In the next couple of weeks, the scheme will take off, and it will accommodate everyone, even students of vocational studies,” Echono added.
Governor Abdulrahman Abdulrasaq of Kwara State commended TETFund for its intervention funds for universities in the state.
The proposed student loan scheme was initiated by President Bola Tinubu, with a bill signed in June 2023 to establish a Student Loan Fund providing interest-free loans for higher education.
