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What You Should Know About The Bola Tinubu Student Loan Bill
President Bola Tinubu has signed the Student Loan Bill into law, which will make it easier for Nigerian students to access loans to finance their education. The Tinubu Student Loan is a major step towards making education more affordable for Nigerian students.
No doubt, the cost of education has increased significantly in Nigeria. This has made it difficult for many students to afford to attend college. In an effort to address this issue, President Bola Tinubu has signed the Student Loan Bill into law. This law will make it easier for Nigerian students to access loans to finance their education.
It will help to reduce the financial burden on students and their families and will make it possible for more students to pursue higher education. The Tinubu Student Loan will provide up to N10 million in loans to students. The loans will have a zero per cent interest rate and must be repaid over a period of 10 years.
RNN gathered the things to know about Tinubu student loans:
- Who is Eligible for the Loan? Students who are enrolled in full-time undergraduate or graduate programs at accredited institutions are eligible for a loan. They must also have a good academic record and demonstrate financial need.
- How Much Can You Borrow? The amount of money you can borrow will depend on your financial need and the cost of your education. The maximum loan amount is N10 million.
- What is the Interest Rate? The interest rate on the loans is zero per cent.
- How do You Repay the Loan? The loans must be repaid over a period of 10 years. Repayment begins after you graduate or leave your program.