Student Loans Scheme: FG Gives Fresh Update

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FG Gives Fresh Update On Student Loans

The federal government, on Monday, January 22, assured that the soon-to-take-off Student Loan Scheme would be devoid of human intervention as every action would be taken on an application, specifically designed for the purpose.

This assurance was given by the Executive Secretary and Chief Executive Officer of the Students Loan Board, Akintunde Sawyerr, who spoke, along with the chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, to journalists at the State House, Abuja, after a briefing meeting with President Bola Tinubu.

He explained that the government was keen to ensure that young Nigerians do not fail to acquire tertiary education just because of a lack of funds to continue their studies.

According to him, the implementation of the student loans scheme would enable Nigerians to pick a career trajectory of their choice, rather than being forced to do something else because they were unable to acquire the requisite education due to lack of funds.

Sawyer also affirmed that the loan would help to stem the dangerous journey undertaken by Nigerian youth across the Sahel to Europe in search of a better life.

Sweyerr disclosed that the school fees for successful applicants would be transferred directly to their institutions, noting that while every Nigerian was eligible to apply for the loan, only the neediest would be supported.

Also speaking during the briefing, the Chairman of FIRS, Dr Adedeji, said the Education Tax is going to be one of the funding sources of the student loans scheme.

He said the deployment of the education tax fund into the scheme is one way the government can be accountable to taxpayers in the country.

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By Abia ThinkTank

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