STUDENTS LOANS ACCESS TO HIGHER EDUCATION ACT 2023

STUDENTS LOANS ACCESS TO HIGHER EDUCATION ACT 2023

LAWS OF THE FEDERATION OF NIGERIA

ARRANGEMENT OF SECTIONS

1.     Students loans and access to higher education

2.     Equal right to access the loans

3.     Purpose of the loans

4.     Requirements for the loans

5.     Establishment of the Nigerian Education Loan Fund

6.     Functions of the Fund

7.     Membership of the Special Committee

8.     Tenure of office

9.     Cessation of office

10.    Power to alter or give directive

11.    Allowances and expenses

12.    Sources of the Fund

13.    Aims and objectives of the Fund   

14.    Eligibility of applicants

15.    Disqualification

16.    Method of application

17.    Disbursement

18.    Repayment

19.    Application of the Public Officers Protection Act

20.    Annual report

21.    Repeal and savings provisions

22.    Interpretation

23.    Citation

STUDENTS LOANS ACCESS TO HIGHER EDUCATION ACT 2023

An Act to repeal the Nigerian Education Bank Act Cap. N104, Laws of the Federation of Nigeria, 2004 and enact the Students Loans (Access to Higher Education) Act, 2023 to provide easy access to higher education for indigent Nigerians through interest free loans from the Nigeria Education Loan Fund established in this Act with a view to providing education for all Nigerians; and for related matters.

[COMMENCEMENT]                                                              [12TH DAY OF JUNE, 2023]

ENACTED by the National Assembly of the Federal Republic of Nigeria

1.     Students loans and access to higher education

Notwithstanding the provisions of any Act, enactment or Law, this Act shall apply to all matters pertaining to the application and grant of loans to Nigerians seeking higher education into institutions of higher learning in Nigeria through the Nigerian Education Loan Fund.

2.     Equal right to access the loans

Subject to the provisions of any other enactment, all students seeking higher education in any public institution of higher learning in Nigeria shall have equal right to access the loans under this Act without any discrimination arising from gender, religion, tribe, position or disability of any kind.

3.     Purpose of the loans

The loans referred to in this Act shall be granted to students only for the payment of tuition fees.

4.     Requirements for the loans

The grant of the loan to any student under this Act shall be subject to the students or applicants satisfying the requirements and conditions set out under this Act.

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LAWS OF THE FEDERAL REPUBLIC OF NIGERIA

LAWS OF THE FEDERATION OF NIGERIA BY YEARS (MADE BETWEEN 1999-DATE)