The Tertiary Education Trust Fund says it has proposed an increase in the rates of living expenses for scholars undertaking programmes abroad due to the decline in the value of the naira.
The scholars had recently appealed for bailouts from TETFund to complete their academic programmes due to fluctuations in the foreign exchange . “The Fund specifically notes appeals from scholars in Malaysia, India and Kenya, some of whom have written to the Honourable Minister of Education and the Fund, requesting for intervention to enable them to complete their studies in their respective institutions.
“With the review, TETFund commenced direct payment of tuition to foreign training institutions to mitigate the issue of exchange rate fluctuations, while disbursement of living expenses was still made to Beneficiary Institutions for retention in domiciliary accounts before transfer to scholars, as a way of protecting the scholarship bond signed with their employers.
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