14. Students applying for loan under this Act must apply as provided under section 17 of this Act on satisfaction of the following conditions — (a) applicant must have secured admission into any of the Nigerian universities, polytechnics, colleges of education or any vocational school established by the Federal Government or the Government of any state of the federation.
(b) applicant income or family income must be less than N500,000 per anum;
(c) applicant must provide at least two guarantors, and each of the guarantors shall be a —
(i) civil servant of at least level 12 in the service,
(ii) lawyer with at least 10 years post-call experience,
(iii) judicial officer, or
(iv) justice of peace.
Eligibility of applicants

15. A student is disqualified from accessing the loan if —
(a) he is proven to have defaulted in respect of any previous loan granted by any organisation;
(b) he has be found guilty of exam malpractice by any school authority;
(c) he is convicted of a felony or any offence involving dishonesty or fraud;
(c) he has been convicted of drug offenses; or
(e) any of the parents has defaulted in respect of students loan or any loan granted to the person

16. (1) All applications must be submitted through the applicant’s bank to the Chairman of the Committee established under this Act accompanied by a cover letter signed by the vice-chancellor or rector or the head of the institution and the students affairs officer of the institution.
(2) Each application shall be accompanied by —
(a) copy of the student’s admission letter ;
(b) a letter by the guarantors addressed to the Chairman of the Committee established under this Act recommending the student for the loan and stating that he accepts liability in the event of default;
(c) two passport photographs from each of the guarantor’s, name of employer and evidence of being so employed by the named organisation;(d) particulars of guarantor’s business registration with the Corporate Affairs Commission or any other appropriate authority and his bankers, where the guarantor is self-employed.
(3) The Committee shall communicate to the applicant on the status of his application within 14 days of the receipt of any application(4) Disbursement shall be on availability of funds

Study the above and use your tongue to count your teeth. The bolded are icing on the cake. Meanwhile, school fees will skyrocket. If this bill takes effect, many Nigerian youth will be denied access to education. Look at this this way, a family with an income of N1m per annum translates to N83,000 per mum, no child from that family is qualified to get the loan. But even now, how convenient is it for such family to feed two children, not to talk of paying school fees for them? Now, even though they struggle to somehow manage (maybe a police father collects enough bribe to be paying his children's fees), the fees will now increase. So, either the policeman increases the rate of bribery, or his children drop out of school. Can you see the ripple effects of bad leadership and governance. Na una go use una head carry am.

No Nigerian likely qualifies for this loan. To qualify, you must be earning below minimum wage, meaning you are civil servant at least. How many people below that line pays tax? Tax clearance is a condition to access the loan. You see that tinubu doesn't mean any well for you, he only wants to generate more money through school fees.