President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, has announced that the Student Loan Application system is being designed to eliminate any direct interaction between loan administrators and beneficiaries.
This measure aims to ensure absolute transparency and fairness in the allocation of student loans.
Addressing the 35th convocation ceremony of Yaba College of Technology on Friday, Gbajabiamila emphasized the government’s commitment to ensuring the scheme’s launch in January 2024, enabling students to access funds for their educational pursuits.
To streamline the process, Gbajabiamila explained that applicants will apply and undergo verification entirely online. Loan disbursements will be based solely on the verifiable documents and credentials provided by applicants, eliminating any personal connections or favoritism.
“Nobody will need to know anybody to qualify for these loans,” Gbajabiamila asserted, underscoring the government’s determination to ensure equal access to this financial aid.
The introduction of this transparent and equitable student loan system aligns with President Tinubu’s recent signing of the Student Loan Bill into law. Upon signing the bill, Tinubu pledged to prevent any student from dropping out of tertiary institutions due to financial constraints.
