…portal opens for state-owned institutions in 3 weeks
Over 60,000 students of various federal tertiary institutions have applied for loans with the Nigerian Education Loan Fund (NELFUND) since the launch of the Fund’s portal on Friday, May 24, 2024.
The loan portal has also seen an overwhelming number of visits, recording some 9.5 million visitors so far.
The Managing Director/Chief Executive Officer of the Fund, Akintunde Sawyerr, disclosed this at a post-application launch press conference held in Abuja on Thursday.
While the first phase of the education loan only accepts applications from students of federal tertiary institutions – universities, polytechnics and colleges of education – Sawyerr said students of state universities would be able to apply in the second phase in the next three weeks.
“Since the launch of our student loan application portal last Friday for students in federal institutions of higher learning, we have witnessed an extraordinary surge in applications with over 60,000 applications,” Sawyerr said.
“This for us has been an overwhelming response and it serves as a testament to the critical need for financial assistance amongst our student population. We remain committed to addressing this urgent demand,” he said.
Sawyerr said over 90 per cent of federal tertiary institutions have so far submitted their students’ data to NELFUND, urging the remaining two federal universities and five federal polytechnics to expedite the process to ensure that all eligible students can access the Fund’s financial support.
“In line with our commitment to democratize higher education, we are excited to announce that NELFUND will commence accepting applications from students attending state-owned tertiary institutions in three weeks’ time,” Sawyerr said.
“We request all state institutions to submit their students’ data immediately, as requested, in order to facilitate a smooth and seamless application process,” he said.
The Fund also has a component for skill acquisition loans, which Sawyerr said would be launched in six months’ time.
“Beyond financial assistance, NELFUND recognises the profound importance of equipping our youth with practical, market-relevant skills,” the NELFUND CEO said
“Six months from today, we will launch a comprehensive skills acquisition programme, providing training in various vocational and technical fields. This programme is designed to prepare students to meet the demands of the modern job market, fostering entrepreneurship and innovation among our young people,” he said.
NELFUND came into being following the signing into law of the Access to Higher Education Act by President Bola Tinubu. It has the responsibility to handle all student loan requests, grants, disbursement, and recovery of the loans provided.
