Tinubu To Launch Student Loan Scheme July 17

President Bola Tinubu will launch the student loan scheme on Wednesday, July 17, marking the commencement of its implementation.

LEADERSHIP gathered that the student loan scheme will be launched at the State House.

The president had recently approved N35 billion for the scheme’s launch, targeting 70,000 initial applications.

The Governing Board of the Nigerian Education Loan Fund (NELFund), chaired by Mr Jim Ovia, approved the disbursement of loans to successful applicants during its inaugural meeting in Abuja last month.

“By approving the immediate disbursement of the loans, (NELFund) has taken a critical step in fulfilling its mission to support education and empower the next generation of leaders,” the agency said.

The student loan scheme, a flagship programme of the Tinubu administration, aims to provide financial support to eligible students nationwide, including school fees and stipends. Over 1.2 million students are expected to benefit from the programme’s first phase.