The Senate has passed the bill seeking to establish the Nigerian Education Bank, which will provide loans to students of tertiary institutions.

The bill which was sponsored by the Speaker of the House of Representatives FEMI GBAJABIAMILA aims to enable Nigerian students in higher institutions of learning have access to financial assistance.

The House had passed the bill earlier this year and with the Senate’s passage, it will be forwarded to the President for assent.

Among other things, the Bank which have powers to supervise, coordinate, administer and monitor the management of student loans in Nigeria and receive applications for students’ loan through higher institutions in Nigeria on behalf of the applicants.