STUDENT LOANS: WHY PRIVATE INSTITUTIONS STUDENTS ARE EXCLUDED

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The administration, according to House of Representatives member Isiaka Gboyega, excluded students attending universities and other postsecondary institutions from the student loan program due to the exorbitant expense of their tuition.

Mr. Gboyega, the Chairman of the House Committee on Tertiary Education and Student Loans, said the school fees of a student in a private school could pay the fees of many in a public school.

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Recall that on Wednesday, President Bola Tinubu signed the student loan bill, which does not apply to pupils attending private schools.

“An applicant for a loan under this Act must be a citizen of Nigeria;

“Have secured admission into any university, polytechnic, college of education established by the Federal Government or State Government, or a vocational or skills acquisition school licensed by the Federal Government,” section 23 of the Act reads.

Speaking on the exclusion of the private schools, Mr Gboyega said, “For anyone that has the capacity to send his/her children to where—some of those private schools, you would agree with me that the need for a loan of this scheme is probably minimal.”

He, however, explained that in the future, the fund could be extended to cover students in private schools.