Femi Gbajabiamila, the Chief of Staff to the President, emphasized on Friday that the Students’ Loan Application system is undergoing design with a key feature: the elimination of intermediaries between loan administrators and beneficiaries.
Addressing an audience in Lagos during the delivery of his lecture titled, “Empowering Nigerian Youths in the Present Day Economy” at the 35th convocation ceremony of Yaba College of Technology (YABATECH), Gbajabiamila reiterated the commitment to launching the scheme in January 2024. The goal is to facilitate Nigerian students’ access to loans, enabling them to “fund their educational aspirations.”
The Students’ Loan Act was signed into law by President Bola Tinubu, establishing a new legal framework for education financing through interest-free loans for students.
To ensure a seamless process, Gbajabiamila detailed, “applicants will apply online, undergo online verification, and receive credits based on the verifiable documents and credentials they submit.”
He emphatically stated, “Nobody will need to know anybody to qualify for these loans, so that access to this financing will be genuinely egalitarian.”
Ada Peter
