Senate Approved Student Loan Act Bill

The Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024 was approved by the Senate on Wednesday, March 20.

The Senate's determination came after it had reviewed the report of the Senate Committee on Tertiary Institutions and TETFUND, which had looked into the Bill.

The report was delivered in plenary by committee chairman Senator Muntari Dandutse (APC-Katsina South).

The Bill was forwarded to the National Assembly by President Bola Tinubu last week for review and approval.

The Senate submitted the bill to the Committee of the Whole for consideration after expediting the hearing by suspending pertinent provisions of its standing rules.

Senate President Godswill Akpabio submitted the bill to the Senate Committee on Tertiary Institutions and TETFUND for additional legislative work after the bill was debated, with a one-week deadline for a report.

The Bill aims to give impoverished Nigerians easy access to higher education by creating interest-free loans from the Nigerian Education Loan Fund, which was created by the Act to fund education for all Nigerians.