The National Assembly has passed the Student Loan Act 2024.

The bill scaled first, second, and third readings in both parliamentary sittings.

The passage of the act followed the consideration of a report of the Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFUND) presented by the chairman of the committee, Muntari Dandutse.

President Bola Tinubu had last week, written to the Senate and the House of Representatives, seeking the repeal of the Bill, and to enact a new one.

The bill also called the Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024 seeks to address challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources, and disbursement and repayment procedures.