The Federal Government has revealed the intricacies of the newly established Student Loan Scheme, emphasizing that the Education Tax managed by the Federal Inland Revenue Service would contribute to its funding. Sawyerr, the Executive Secretary of the Scheme, outlined the conditions needed for the loan application, during his inaugural public briefing.
Prospective applicants are required to furnish essential details, including their JAMB registration number, date of birth, National Identification Number (NIN), and Biometric Verification Number (BVN). Sawyerr underscored the significance of these criteria, stating, “The NIN confirms that they are Nigerians, as this loan is funded by Nigerian taxpayers.”
“It will also have their matric number and admission number so that we can firmly establish which institution they are going to because one of the key elements of this is that once we have received applications and those applications are approved, the fees or the tuition requirements in terms of financials will be transferred directly to the institution. That in itself has benefits for the institution,†The Executive Secretary explained.
