Home News Senate moves to set monetary lend a hand method for college students 

Senate moves to set monetary lend a hand method for college students 

by Good News

Kwara –

By Chibuike Nwabuko

Abuja (Sundiata Post) – A invoice searching for to manufacture for the institution of the Nationwide Student Monetary Abet Intention scaled second reading within the Senate, on Wednesday.  

The invoice sponsored by Senator Umar Sulieman (APC, Kwara North), seeks to manufacture a realistic framework for the success of coaching financing.

Suleiman, in his lead debate on the recordsdata of the invoice, stated identical presents for the management, governance and administration of the tactic.

In accordance with him, the Nationwide Student Monetary Abet Intention, upon its institution, would grant ardour free loans and bursaries to eligible students at bigger Institutions.

He added that it may maybe most likely most likely also salvage particular the effectively-structured administration of such loans and bursaries and their restoration. 

He recalled that the Nigeria College students Loan Board which was established in 1982 to lend a hand students finance undergraduate and graduate reports within and outdoors Nigeria, equipped loans between 1972 and 1991 totaling N46 million to lend a hand students finance their training. 

He disclosed that out of the sum, the Board faced the voice of recovering outstanding loans of over N40 million, which resulted in the suspension of the tactic in 1992.

He stated that the College students Loans Boards was changed in 1993 by the Nigerian Education Bank. 

He explained that the Education Bank serves as a significant middleman in training credit score market financing, and designed to harness inner most sector resources for funding training.  

The lawmaker, famed that the invoice to set the Nationwide College students Monetary Abet Intention, also seeks to repeal the existing Nigerian Education Bank.

The invoice after consideration was referred by the Senate President, Ahmad Lawan, to the Committee on Tertiary Institutions and TETFUND for additonal inputs. 

Meanwhile, a invoice to set the Federal College of Education (Technical) Bichi, also scaled second reading on Wednesday. 

The invoice was sponsored by Senator Jibrin Barau (APC, Kano North). 

The invoice after consideration was also referred by the Senate President to the Committee on Tertiary Institutions and TETFUND.

The Committee was given four weeks to sage lend a hand to the Senate in plenary. 

Related Articles