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HOR To Amend Students’ Loan Act

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The House of Representatives says it will amend the students’ loan act signed by President Bola Ahmed Tinubu, to make the loans easily accessible by the students.

The chairman, House Ad-hoc Committee on Students Loan and Access to Higher Education Mr Terseer Ugbor, disclosed this at an interactive session, with officials of the Federal Ministry of Education, at the National Assembly.

He said that the committee was constituted by the House to convene a “Legislative Summit on Students Loans”, to collate information from stakeholders and policy makers on the best approach to implement the Students Loan Scheme in the country.

” For emphasis, Students Loans are an important aspect of modern education financing around the world, it creates access to education for students who would otherwise be unable to afford a higher education or unable to study professional courses needed for our scientific development, industrialization, technological advancement and economic growth. For students loan schemes to be successful, they must be easy to access, easy to repay and supported by flexible exit plans so as not to over burden our young citizens and stifle their development after graduation.” Hon Ugbor said.

He stated that the committee is also expected to ascertain the implementation plans and current status of the Students Loan Scheme, and thereafter report back to the House on proposed amendments to the Students Loans Act.

The proposed summit according to him, will enable inputs from relevant stakeholders across board through the memoranda presented which will in turn compile necessary amendments to the proposed Act for the benefits of students.

However, efforts by the Ad-hoc Committee to ascertain the implementation plans for the scheme, from officials of the Federal Ministry of Education was unsuccessful, as the Director, Legal Services, Mrs Enonebi Azorbo, who led other ministry officials to the parley, was unable to provide answers to the panel’s query on the activities of the presidential committee on the students Loan scheme.

The committee chairman, therefore invited the permanent secretary of the ministry, Andrew Adejo to appear before it next week Tuesday, with the view to make known steps put in place by the Ministry to implement the students loan act.

Oduyemi Odumade, Edited By Grace Namiji

Written by: Elizabeth David

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