According to the federal government, arrangements are being made for student loans to start between September and October 2023.
When speaking to reporters about the law that President Bola Tinubu signed on Wednesday in Abuja, the Permanent Secretary of the Federal Ministry of Education, David Adejo, revealed this.
According to NAN, President Tinubu fulfilled a campaign promise he made by signing the Student Loan Bill into law on Monday.
Femi Gbajabiamila, the Speaker of the 9th House of Representatives, is the primary proponent of a plan that would grant needy Nigerian students interest-free loans.
According to Adejo, the bill will make it simple for needy Nigerians to enroll in higher education thanks to loans from the Nigerian Education Loan Fund that are interest-free.
He said that both private and public school kids are eligible for the loan.
He said that in order to ensure the success of the loan program, president Tinubu had also established a committee made up of several ministries and organizations.
He said that the measure was intended to guarantee that every Nigerian has access to higher education through what was known as the Higher Education Nigerian Bank.