Tinubu Wants To See Student Loans Receipt – Education Ministry

President Bola Tinubu has stated that he wants to see student loans recipient by the September/October 2023/2024 academic session, according to the federal ministry of Education.

The Education Ministry made this information public during a news conference on June 14.

The Ministry’s Permanent Secretary, Andrew David Adejo, indicated that the government is no longer able to support universities financially.

He said: “Whether we like it or not, the government can no longer foot the bill for universities. That is why we are doing a private-public partnership. The universities already have autonomy, the autonomy they are yet to have is financial autonomy, it is when they get it that they can answer that question and the government is working towards that.

“President Bola Ahmed Tinubu has directed that he wants to see recipients of the loans by September/ October of 2023/2024 academic session and that as such, an inter-ministerial committee will be inaugurated on Tuesday to fine-tune the process for students to get the loan within six weeks.

Read Also: Five Things To Know About Students Loan Bill Signed By Tinubu

“Without meaning to say what the committee set up would do, we don’t want to make something that only public school students would benefit from, for now, private schools are paying tuition so you have to give somebody who is going to private school an opportunity for get and pay tuition.

“What you have been seeing is the bill that was presented and went through the final reading at the House of Representatives and before Mr. President signs a bill, he looks at it and sends it to relevant ministries and then decides if it is okay and if there are modifications that are necessary. Let us wait to see the Act and you will get the Act when it is transmitted to the Ministry of Justice to produce into a gazette.”

Adejo went on to say that in addition to tuition, there are other costs the loans could pay for.

He said: “You can’t give someone a loan and say pay tuition without sustaining his school, No, you have to get accommodation, even if tuition fees in public universities are free you still pay for your accommodation and the federal government would not give you a loan that will not make sure you get in school, stay in school and graduate.”

On why the same loan failed in the past, the permanent secretary said: “We want the current act to learn from the mistake of the past where there are more defaulters than people that paid the bill, the past is like it is a government money come and take and go, free money but that is not going to be the case with this.”