FG Explains Delay in Launching Student Loan Scheme

• TETFund Executive Secretary Sonny Echono clarifies the temporary postponement of the student loan scheme’s launch, ensuring eventual implementation
• Echono reassures Nigerian students of President Bola Tinubu’s commitment to the initiative, citing feedback from the National Assembly as reason for delay

The Federal Government has shed light on postponing the student loan scheme’s launch.

Sonny Echono, the Executive Secretary of the Tertiary Education Trust Fund (TETFund), addressed the issue during a visit by Kwara State Governor Abdulrahman Abdulrazaq to Abuja on Wednesday.

Echono clarified that the delay was temporary, a few weeks, rather than indefinite.

He reassured Nigerian students of President Bola Tinubu’s commitment to the initiative but cited feedback from the National Assembly as prompting the postponement.

Echono emphasized the importance of addressing concerns to ensure a smooth, standardized scheme implementation.

“The launch of the loan scheme is not indefinitely postponed. It’s simply undergoing minor adjustments to ensure seamless execution,” Echono stated.

Highlighting the potential impact, he mentioned an estimated 140,000 students poised to benefit in the inaugural year, urging eligible students to prepare their applications upon the scheme’s launch.

“We anticipate a brief delay of days, at most weeks, before the program commences. The president remains dedicated to this endeavour, ensuring its successful rollout,” Echono affirmed.

He underscored the scheme’s inclusivity, extending support beyond traditional academic paths to encompass vocational studies, promising transformative opportunities.

Governor Abdulrazaq expressed gratitude for TETFund’s contributions to higher education in Kwara State and urged further assistance, particularly for colleges of education.

“We acknowledge TETFund’s significant role in bolstering educational infrastructure. However, challenges persist, notably in management and infrastructure. We seek continued collaboration to address these issues,” Governor Abdulrazaq stated.