EXPLAINER: How to apply for FG’s student loan
On Monday, June 12, 2023, the President, Bola Tinubu, signed into law the Student Loan Bill. The bill, which will enable Nigerian students to have access to interest-free loans, was introduced by the outgoing speaker of the House of Representatives, Femi Gbajabiamila. It was reported that the piece of legislation passed second reading at the lower house on May 23, 2023. With the establishment of an education bank, tertiary institutions owned by the Federal Government may now be at liberty to introduce tuition fees, experts in the higher education sector have argued. Already, some universities owned by the Federal Government have started announcing an increase in tuition fees. For instance, The PUNCH in December 2022 exclusively reported how some Federal Government-owned universities announced a 200 per cent hike in fees. It is believed that the introduction of the education bank will help address the funding gap in tertiary institutions. According to the bill, which was sighted by ou