Repayment Of Student Loan Begins Two Years After NYSC – FG

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The Federal Government has said the recovery process from beneficiaries of the Nigeria Education Loan Scheme would commence two years after the National Youth Service Scheme.

The Executive Secretary, of NELFund, Dr. Akintunde Sawyer, made this known during an interview with the News Agency of Nigeria on Thursday in Abuja.

On June 12, 2023, President Bola Tinubu signed the Access to Higher Education Act, 2023 into law, to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution

However, Sawyer said that the reason for the two-year grace after NYSC was to afford the beneficiaries enough time to get a job and be stable before the repayment.

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