The Federal Government’s newly launched student loan scheme has continued to attract commendations from education stakeholders, youth groups, and parents across the country.
The initiative, designed to provide financial assistance to indigent students in tertiary institutions, is being hailed as a major step toward improving access to higher education and reducing the dropout rate caused by economic hardship.
Speaking in Abuja on Thursday, the President of the National Association of Nigerian Students (NANS), Lucky Emonefe, said the scheme has restored hope to thousands of students who struggle with tuition and other academic expenses.
>For many young Nigerians, education had almost become unaffordable. This student loan scheme is a lifeline. We commend the government for listening to the cries of students,” Emonefe said.
Several university vice-chancellors also praised the initiative, noting that it could ease the financial burden on institutions by ensuring timely payment of fees while giving students breathing space to focus on academics.
Parents under the National Parent-Teacher Association of Nigeria (NAPTAN) described the policy as a “progressive intervention” but urged the government to ensure the application process is transparent, accessible, and free from political interference.
Meanwhile, financial analysts have advised the government to create a sustainable repayment structure and consider expanding the fund to cover vocational and technical education, thereby reaching more young Nigerians.
The Minister of Education assured that disbursement guidelines would prioritize fairness and accountability, while emphasizing that the scheme is not a grant but a revolving loan designed to serve future generations.
