Federal Government says beneficiaries of the Nigeria Education Loan Scheme will begin to pay back two years after their youth service.
Executive Secretary of the Loan Board, Dr Akintunde Sawyer stated this during an interview session in Abuja.
Dr Sawyer explained that the two-year grace after NYSC was to allow beneficiaries enough time to get jobs and get settled before the repayment.
He however said those who have the means can pay back before the two years while those who could not secure jobs even after two years, would not be compelled to pay, with government having no choice but to wait till they can pay.
The Executive Secretary also said there would be a register of those who have taken the loan while employers would have access to the register to know those who have taken such loans.
Dr Sawyer advised Nigerians not to circumvent the loan process and also warned against politicising the scheme.
The Nigeria Education Loan Fund portal is expected to open this month, even though President Bola Tinubu signed the bill into law in June, last year.
