National Assembly passes students loan bill

user_icon National Assembly passes students loan bill Posted by: NOTICE.COM.NG Staff
calendar-icon National Assembly passes students loan bill Posted on: 2022-11-23 19:02:09
National Assembly passes students loan bill NATIONAL-ASSEMBLY-NASS55861

The two chambers of the National Assembly, on Wednesday, passed the Students Loan Bill, which would enable students in higher institutions of learning to gain more access to financial assistance.

The bill, which was sponsored by the House of Representatives speaker, Femi Gbajabiamila, was titled ‘A Bill for an Act to provide for easy access to higher education for Nigerian People through an interest-free loan from the Nigerian Education Bank established in this Act with a view to providing education for Nigerian People and for other purposes connected thereto.'

The bill seeks the establishment of the Nigerian Education Bank, which will have the powers to administer, coordinate, supervise and monitor the management of student loans in the country. It will also receive applications for student loans through higher institutions in Nigeria on behalf of the applicants and screen the applications to ensure that all requirements for the grant of such loans under the Act are satisfied.

DO YOU KNOW >>> Tension in Ekiti community as youths protest against monarch

Also, the bank shall have the powers to approve and disburse to qualified applicants and ensure compliance in respect of disbursement, and monitor academic records of grantees to obtain information on their year of graduation, national service, and employment to ensure that grantees of the loan commence repayment as at when due, among other functions.

According to the Act, all students seeking higher education in public institutions of higher learning in Nigeria shall have an equal right to access the loan without any discrimination arising from gender, religion, tribe, position or disability.

The House of Representatives had earlier this year passed the bill and forwarded it to the Senate for concurrence. With the Senate's concurrence, a copy would be produced and transmitted to President Muhammadu Buhari for assent. Once it is signed into law, Nigerian People will begin accessing the loans.

WATCH >>> Obi Cubana and E money Net Worth 2022s & Cars - Who is richer?

WATCH >>> Peter Obi Net Worth 2022, Biography, Cars And Houses

WATCH >>> Download Nollywood Movie: Selina Tested (Episode 28, Endgame B) FINAL

READ ALSO >>> Court disqualifies Rivers Labour Party National Assembly candidates

READ ALSO >>> De Ligt meets Juventus boss Sarri - Transfer

LISTEN TO >>> Music Mp3: Yung6ix Ft Ajebo Hustlers - Your Way

READ ALSO >>> Comedian Alibaba Net Worth 2022, Car Collection, Awards, House

For All Nigeria Past Questions Visit www.QUESTION.NG

Kindly share this post on different Social Media below



NOTE: User comments in this section are, as the name implies, provided by users of this website. The team is not responsible for, nor do they endorse, any of the information provided here.