The House of Representatives Ad-hoc Committee On Student Loans and Access To Higher Education is meeting with the National Universities Commission (NUC), Central Bank of Nigeria (CBN), students’ representatives and other stakeholders over the proposed students loan scheme of the federal government.
Recall that President Bola Ahmed Tinubu had signed into law a bill to provide soft loans for students at tertiary institutions to undergo their studies.
In his opening address at the meeting, the committee chairman, Terser Ugbor, said they convened the Legislative Summit on Students Loans to gather more information from stakeholders in the education sector and other relevant bodies on the best approach and strategy to implement the Students Loans Scheme in Nigeria.
He added that the committee would present its report to the House for legislative action on the proposed amendments to the Students Loans Act.
He said, “For emphasis, students loan is 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 loans 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.”