- The federal government said only applicants from federal tertiary institutions can access student loans
- The Nigerian Education Loan Fund (NELFUND) boss, Akintunde Sawyerr, said a maximum of 1.2 million students will access the students’ loans in its opening phase
- Sawyerr added that students in state universities and vocation skills centres would apply at a later date
FCT, Abuja - President Bola Ahmed Tinubu-led federal government said only students enrolled in federal tertiary institutions whose institutions have finished uploading their data would be able to apply in the first phase.
The managing director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, disclosed this while speaking ahead of the portal’s formal launch for applications on Friday, May 24.
Sawyerr said a maximum of 1.2 million students across federal tertiary institutions will access the students’ loans in its opening phase, The Nation reports.
He said undergraduates can start the application process as early as Friday, May 24 at www.nelf.gov.ng
As reported by The Punch, the NELFUND boss said students in state universities and vocational skills centres would apply at a later date.
According to Sawyerr, the Fund will pay 100 percent of institutional fees directly to the institutions of learning account while also providing stipends to the students monthly based on when school is in session.
He listed some key features of the student loan - no physical contact between the loan applicant and NELFUND, a user-friendly application portal, applicants can access comprehensive online support to assist and flexible repayment plans.
“We encourage all students in federal institutions to take advantage of this opportunity to secure the required financial assistance for their education. Applicants must submit their applications as early as possible to ensure timely processing.”
FG announces date to open student loan application portal
Legit.ng earlier reported that NELFUND announced May 24, 2024, as the official date for the opening of the portal for student loan applications.
The media lead of NELFUND, Nasir Ayantogo, confirmed this development to journalists on Thursday via a statement.
Ayantogo explained how the student could begin application on the portal and access loans to pursue their academic aspirations without financial constraints.
.. Source: Legit.ng
