Student Loan in Nigeria Application Form Portal and Eligibility criteria – Be informed that the president Bola Ahmed Tinubu has signed student loan into law for all tertiary institution students to apply for the Nigerian Student loan.
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Every Nigerian student seeking admission to an institution of higher learning, provided they meet certain criteria. The bill states that there will be no discrimination based on gender, religion, tribe, position or disability of any kind.
Criteria include:
Applicants would have to submit the applications through their respective banks to the chairman of the Committee tasked with disbursing the student loan fund. We’ll provide more details on how to apply soon.
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Beneficiaries of Nigeria’s student loan will commence repayment two years after completion of the National Youth Service Corp (NYSC) programme.
Your employer will deduct 10% of your salary at source and remit it to the Student Loan Fund. If you change jobs, you have to communicate that within 30 days of resuming the new job
The Permanent Secretary avowed that aside from the creation of a specialized bank for the operation of the loans, there would be a tracking system for the efficient and smooth running of the scheme.
He said the purpose of the loan is to help applicants get into an education programme and subsequently get employed.
Loan recovery, he stressed, does not start until the applicant is employed.
“We don’t want to make it so that only people who want to go to public schools will benefit from it; private schools are paying tuition, so you have to give them the opportunity,” he added.
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