NELFUND Approves Student Loans: What You Need to Know

The Nigerian Education Loan Fund (NELFUND) has announced the approval of student loans for successful applicants from selected tertiary institutions. This significant decision was made during NELFUND’s inaugural board meeting in Abuja, chaired by Jim Ovia.

A New Chapter for Student Support

The Nigerian Education Loan Fund (NELFUND) has taken a crucial step towards empowering students in tertiary institutions by approving the disbursement of student loans. This decision, announced following NELFUND’s inaugural board meeting chaired by Jim Ovia, marks a significant milestone in providing financial assistance to students.

Commitment to Educational Support

In a statement published on its official X handle (formerly Twitter), NELFUND highlighted that the board meeting was a pivotal moment in the organisation’s commitment to supporting students. Under the leadership of Board Chairman Jim Ovia, the approval for the immediate disbursement of student loans was a top priority.

This move underscores President Bola Ahmed Tinubu’s dedication to offering timely financial assistance to students in need. By approving the loans, NELFUND aims to help students pursue their educational goals without facing financial hurdles.

Future Initiatives and Support

The inaugural meeting also set the stage for future initiatives aimed at enhancing educational opportunities and providing comprehensive support to students across various disciplines. The management of NELFUND, led by Managing Director/CEO Akintunde Sawyerr, and representatives of member organisations were present at the meeting.

Postponement of Application Process

NELFUND announced a 14-day postponement of the application process for students of state-owned institutions due to low data submissions. Nasir Ayitogo, NELFUND Head of Media and Public Relations, stated that the decision was due to several state-owned institutions failing to upload the required student data and fee information to the NELFUND Student Verification System (SVS).

Ensuring a Seamless Process

To date, only a limited number of state-owned institutions have completed the data submission process. This includes 20 state-owned universities out of 48, 12 state-owned colleges of education out of 54, and two state-owned polytechnics out of 49. The failure to submit data from the remaining state institutions poses significant challenges to ensuring a seamless and accurate verification process for student loan applicants.

The application window, initially set to open on June 25, 2024, will now commence on July 10, 2024.

For more information, visit the Nigerian Education Loan Fund website and stay updated on the latest developments in educational support and opportunities.