OPINION BY OLABISI DEJI-FOLUTILE: Dissecting Tinubu’s student loan act | TheCable
subsidy on fuel causing the price to rise by over 150 per cent. He has announced the unification of FX window putting an end to multiple exchange rates; suspended the governor of the Central Bank of Nigeria, chairman of the Economic and Financial Crimes Commission , and signed into law the Student Loan Bill, among others.
students seeking higher education in any public institution in Nigeria provided they meet the criteria for qualification. The loan according to the document in public space is only for the payment of Tuition fees.The Act provides for the establishment of a Nigerian Education Bank to be funded by the Federal Government.
Payments will be 10 per cent direct deductions from their salary account. Self-employed graduates are expected to document their income for deductions within 60 days. They will also remit 10 per cent of their monthly profits.To be eligible, applicants must have secured admission into any tertiary institution either federal or state. This could be
Students are disqualified from applying if they have defaulted in any loan before; have proven case of exam malpractice; ever been convicted for any offense of dishonesty or fraud; convicted for drug abuse; or their parents have any history of previous default on any loan. essential physical infrastructure for teaching and learning in many tertiary institutions in Nigeria.If not for TETFUND, perhaps many public institutions in Nigeria may not have new structures. I was once at the Federal Polytechnic, Ilaro in Ogun State, and all the new buildings there were built by TETFUND. The story is similar in many institutions.
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