The Act, also known as the Students Loan Law, also established the Nigerian Education Loan Fund, which is expected to handle all loan requests, grants, disbursement, and recovery.2. The sum is static with a range of repayment options that are tied to a borrower’s income.
7. Beneficiaries who can not find employment within the grace period of two years will have to periodically report their employment status to the Student Loan board. 10. The fund is to be domiciled in the Central Bank of Nigeria and managed by an 11-person special committee chaired by the CBN governor, the law stipulates in Section 5.
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