FG Student Loan Scheme - Begins  : Careersngr

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FG Student Loan Scheme – Begins 

Filed in Loans & Grants by on August 3, 2023

Here’s the easiest way to enroll in the Federal Government Student Loan Scheme. If you’re enrolled in a Public Nigerian University, Polytechnic, College of Education, or any TVET school, then you’re in luck because the days of ASUU strikes will soon be a thing of the past.

President Bola Tinubu confirmed on Monday that the Student Loan Scheme he authorized on June 12, 2023, will be implemented in January 2024. He also assured that occurrences of strikes by academic staff unions in tertiary institutions would be eliminated.

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“When the 29th session of the annual Nigeria Economic Summit opened at Transcorp Hilton, Abuja, I hope to see the commencement of the new Student Loan Programme by January 2024. We are declaring an end to strikes for the sake of our children and students,” stated Tinubu.

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Check Out: ₦250,000 FG Loan by NDE Begins

As per the bill, which our correspondent reviewed on Monday, students who wish to apply for loans under this Act must meet the following conditions when applying to be Chairman of the Bank through their respective institutions:

Requirements

  1. The student must have been admitted to a public Nigerian University, Polytechnic, College of Education, or any TVET school. ii. The applicant’s income or family income must be less than N500,000 per annum. iii. The applicant must provide at least two civil servants as guarantors: either with a minimum of level 12 years in service; a Lawyer with at least 10 years post-call experience; a Judicial officer; or a Justice of Peace.
  2. Students who have defaulted on previous loans; and found guilty of exam malpractice, felony, or drug offenses will not be considered.
  3. Students with parents who have defaulted in respect of previous loans will not be considered.
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How to Apply for a Student Loan Scheme

The application process for the Student Loan Scheme has commenced. If you have reviewed the requirements mentioned earlier, you are eligible to apply for this loan. You can initiate your application now and expect to receive the funds as soon as possible.

To submit your application, please click on the following link to learn more.

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