The Senate has passed the Student Loans Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.
The passage followed the consideration of a report of the Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFUND), presented by the Chairman representing Katsina South, Sen. Mohammed Muntari.
This is as the bill, last week, passed a second reading.
President Bola Tinubu had last week, written to the Senate and the House of Representatives, seeking the repeal of the Student Loan (Access to Higher Education) Bill, and to enact a new one.
The new act will enhance the implementation of the Higher Education Student Loan Scheme, by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures.