These penalties are created to underscore the seriousness of loan repayment obligations and encourage borrowers to meet their tasks immediately. 10% on the applicant’s salary shall be deducted at source by any employer for that repayment of your loan. And if they are self-used, they're going to remit 10% in https://africred.org/11-Things-You-Need-To-Know-About-the-Student-Loan-Law-in-Nigeria