The Tinubu Stakeholders Forum (TSF) has said that the newly launched Student Loan Scheme will contribute in no small measure to national development by building a generation of well-educated citizens with high level manpower training.

The scheme, the TSF said in a statement signed by its chairman, Ahmad Sajoh, and Secretary Afolabi Josiah, will enable individuals to be self-reliant, attain their maximum educational ambition, and be useful members of the society. 

"This scheme is bound to ensure that financial constraints do not deny indigent students of quality education while knowledge acquired will be useful to the country. 

The group further said: "This initiative, overseen by the Nigeria Education Loan Fund (NELFUND), marks a significant milestone in our nation's educational history, with 103,000 successful applications out of 164,000 registered between May 25 and July 17, 2024. 

"For us, the scheme underscores President Bola Tinubu's commitment to education as a powerful tool to combat poverty and insecurity in Nigeria.

"For the avoidance of doubt, the Nigerian government has, historically, catered to students through bursaries and scholarships. While those methods have been beneficial, the current initiative promises a more structured and expansive approach, ensuring that financial constraints do not hinder any Nigerian from accessing quality education.

"Comparatively, the student loan systems in the UK and USA have long supported students in achieving their educational goals, leading to well-established and effective frameworks. So, the implementation of a similar programme in Nigeria signals a commitment to adopting best practices that have proven successful globally. 

"This program is designed to not only support current students but to be a sustainable model that will serve future generations.

"President Tinubu's initiative ensures that tuition fees are paid directly to institutions, while students receive stipends for their upkeep, thus covering all critical aspects of their educational pursuit. This initiative is poised to create a lasting impact on the educational landscape of Nigeria, fostering a generation of well-educated and skilled individuals equipped to contribute significantly to national development."

The group also urged beneficiaries to ensure they honour their commitment in order to ensure that the programme is sustained.

"As we celebrate this landmark achievement, we urge the beneficiaries to approach this opportunity with utmost seriousness and integrity. The successful implementation and sustainability of this program rest on the responsible utilisation and timely repayment of these loans. 

"By honouring their commitments, beneficiaries will not only secure their own futures but also pave the way for countless other students to benefit from this scheme in the years to come.

"We at the TSF believe that this programme will be entrenched and will grow to support many generations of Nigerian students. We commend President Tinubu for his visionary leadership and unwavering dedication to making education accessible to all", it added.