The Senate has passed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.

The passage followed the consideration of a report of the Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFUND), presented by the Chairman representing Katsina South, Sen. Mohammed Muntari.

Recall that President Bola Tinubu had last week transmitted the Bill to the National Assembly for its consideration and passage.

The bill seeks to enhance the implementation of the higher education student loan scheme by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF).

It also seeks to amend applicant eligibility requirements, loan purpose, funding sources, and disbursement and repayment procedures.