Government Loan for Students In Nigeria – Check Out New Granting of Loan
Students can now apply for a loan through the federal government of Nigeria. The government has announced that it is going to grant loans to students in a tertiary institutions.
The Minister of Education Adamu Adamu stated about this at a program organized by the National Universities Commission (NUC).
He said that a bill that would approve granting of loans to students was already sent to the National Assembly for approval and waiting for their response.
He also added that another bill concerning Higher Education Loans Board is already set aside for consideration and approval by both chambers of the National Assembly. The new grant which is known as Tertiary Education Trust Fund however would be applicable in some selected tertiary institutions across the country
Government Loan for Students In Nigeria
The federal government of Nigeria just announced the new granting of loans to students.
The federal government has been giving loans to students in tertiary institutions and it is still going on with that.
As we all know the government has always been giving loans to students in a tertiary institutions. The government of Nigeria believes that education is an important aspect that all citizens should give priority to.
To ensure that everyone who wants to further their studies has a chance to do so, they provide funding through this loan program.
At this time there are three types of government student loans available:
- Student Loans for Tertiary Education (SLTE), which provides financial support for students pursuing higher education at public universities, polytechnics, and colleges of education across Nigeria;
- Federal Government Loan Scheme for Science and Technology Students (FGLSSTS), which offers scholarships for undergraduate programs in science subjects at public universities; and
- Federal Government Scholarship Scheme (FGS), which is meant for outstanding students from rural areas who want to study medicine or dentistry overseas as well as those who wish to pursue PhDs overseas.
Check Out New Granting of Loan
And today, the federal government has announced that it is still going on with the granting of loans to students. You are still eligible to apply for a loan from them if you meet their criteria. It also means that you can now apply for your loan and be assured of getting it if you qualify.
To be eligible for this new scheme, some conditions must be fulfilled by any student requesting for a loan. First and foremost, one must have completed secondary education or its equivalent at the time of application.
Secondly, one must have passed all his/her final exams without fail; thirdly, one must not have any form of criminal record; fourthly, he/she should not be older than 30 years when applying for this particular scheme (for graduate studies only).
The Federal Government has also introduced certain conditions which need to be met before they can give out loans under this new scheme being implemented in Nigeria today too!
Minister for Education Adamu Adamu
This news came from the Minister for Education Adamu Adamu who stated this at a program organized by the National Universities Commission. The event was held on Monday, October 17th, 2018 in Abuja.
The Minister told participants that Nigerian students are no longer in need of loans because they can now access grants and other funding options like scholarships to fund their education.
Students can also participate in academic programs online or face-to-face with their home institutions as partners of global universities.
The minister said that a bill that would approve granting of loans to students was already sent to the National Assembly for approval and waiting for their response.
You may be wondering if this is true or not. Well, we have some exciting news for you. The minister said that a bill that would approve granting of loans to students was already sent to the National Assembly for approval and waiting for their response.
The minister said that they are aware of the issue surrounding student loans and they are working towards solving it as soon as possible.
He also added that another bill concerning Higher Education Loans Board is already set aside for consideration and approval by both chambers of the National Assembly.
You should know that the Higher Education Loans Board has been established to provide loans to Nigerian students who cannot afford the cost of their education.
How much does a loan from the board cost?
It is important to note that there are various types of loans offered by HBLB, and they all have different rates depending on their purpose, duration, and other factors. The most common type of loan is a personal bank loan which comes with an interest rate of between 10% and 15%.
The new grant which is known as Tertiary Education Trust Fund however would be applicable in some selected tertiary institutions across the country.
The new grant which is known as Tertiary Education Trust Fund however would be applicable in some selected tertiary institutions across the country.
The Federal Government has announced the new grant which is known as Tertiary Education Trust Fund (TETFund). The Federal Government has approved the release of N30 billion for over 10 thousand beneficiaries who have successfully applied for their loans.
This was made public by Minister of Finance, Dr. Kemi Adeosun, who disclosed that those who had applied for their loans are expected to be paid within seven days from today when they get their confirmation from the system.
Good News To Students in Nigeria
Good news to the students in Nigeria, especially those who are looking forward to getting a loan from their government.
The Federal Government of Nigeria has announced that it is still going on with the granting of loans to students.
On March 27th, 2019 at a press conference attended by Vice President Yemi Osinbajo and other cabinet members of Nigeria, it was announced that a bill that would approve granting of loans to students was already sent to the National Assembly for approval and waiting for their response.
Conclusion
So, this is good news for all the students in Nigeria. The Federal Government of Nigeria has announced that it is still going on with the granting of loans to students in tertiary institutions.
This news came from the Minister for Education Adamu Adamu who stated this at a program organized by the National Universities Commission.
The minister said that a bill that would approve granting of loans to students was already sent to the National Assembly for approval and waiting for their response.
He also added that another bill concerning Higher Education Loans Board is already set aside for consideration and approval by both chambers of the National Assembly
