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UNDERSTAND NIGERIA’S NEW STUDENT LOAN BILL:

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  Understand Nigeria’s new Student Loan bill: Discover eligibility requirements, application process, loan amounts, and repayment terms. Get your common questions about student loans in Nigeria answered here. Will I Face Imprisonment for Not Repaying a Student Loan? On June 12, 2023, Nigerian President Bola Ahmed Tinubu enacted the Student Loan bill, a law designed to provide students with financial assistance for higher education. The bill heralds the establishment of the Nigeria Education Bank, which will oversee the loan process under the supervision of the Central Bank of Nigeria. However, the law’s implementation timeline remains uncertain, raising several queries about its operation. Eligibility Criteria for the Student Loan To meet the requirements applicants must have successfully secured admission to any state or federal government university, polytechnic institute, college of education, or vocational school. Your income or your family’s income should not exceed N500,000. ...