FG: We’re still working on student loan policy… no specific launch date

The federal government says it is still making adjustments to the student loan policy.

Akintunde Sawyer, the executive secretary of the Nigerian Education Loan Fund (NELF), told Arise TV on Tuesday that the body would not be able to commit to a specific launch date for now.

President Bola Tinubu, in June 2023, signed the Access to Higher Education Law to grant indigent students access to interest-free loans, enabling them to pursue their education in any government-run tertiary institution.

The scheme was slated to commence between September and October 2023. However, this was deferred.

There was a revised timeline for January 2024, which was postponed to February, and then March 14 — all of which also fell through.

NELF said the process is technically driven and necessary measures need to be put in place for proper execution.

Speaking during the interview, Sawyer said pre-launch corrections to the policy are preventing the fund from committing to a specific launch date.

“Thursday (March 14) is not the day because there are some corrections being made around the launch itself,” he said.

“What we look to expect from this is the opportunity for students, sometime this month, to be able to put in their applications to access the loan.

“Unfortunately, I won’t be able to commit to a specific date.

“We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided.

“Then we can actually roll this out in a meaningful, comprehensive, wholesome and sustainable way.”