Senate today passed the Student Loans Access to Higher Education Act (Repeal and Re-Enactment) Bill, 2024, a week after it was first presented.

This followed after the Senate considered and approved a report submitted by the Chairman, Committee on TETFUND, Mohammed Muntari.

The new act will enhance the implementation of the Higher Education Student Loan Scheme, by addressing challenges related to the management structure of the Nigerian Education Loan Fund, applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures.

Recall that President Bola Tinubu had last week, written to the National Assembly, seeking the repeal of the Student Loan Access to Higher Education Bill, and enactment of a new one.