Terseer Ugbor, chairman of the house ad hoc committee on student loans, says the scheme will be insured to cover for the possible death of beneficiaries or cases of abscondment.the student loan bill into law to provide financial assistance to students in tertiary institutions.
Questions have also been raised about whether or not guarantors would be held liable if a loan beneficiary dies before repayment. In the case of the beneficiary’s death or willful abscondment, he said an insurance package could be tapped into.
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