The Federal Government through the Nigerian Education Loan Fund (NELFUND) has said it would open the portal for students to apply for the loan on May 24.
In a statement by Nasir Ayitogo, NELFUND Media and Public Relations Lead, Akintunde Sawyer, NELFUND Managing Director, disclosed this on Thursday in Abuja.
According to Sawyer, students can now get loans through the platform, enabling them to pursue their academic goals without financial limitations. The program will start off with 1.2 million participants.
The funds would be paid directly to the tertiary institutions of the benefitting students.
The students would also be entitled to stipends which would be paid directly to them.
The Nigerian Education Loan Fund (NELFUND) is tasked with the management and disbursement of the student loans. NELFUND’s role is critical in ensuring the success of this initiative. The organization will oversee the application process, disburse funds, and manage repayments. Their mandate includes:
The statement said: “The management of Nigerian Education Loan Fund (NELFUND) led by its Managing Director, Mr Akintunde Sawyerr are thrilled to announce 24th of May, 2024 as the official date for the opening of a portal for student loan applications.
“This marks a significant milestone in the commitment of President Bola Ahmed Tinubu (GCFR) to fostering accessible and inclusive education for all Nigerian students.
“Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
“The portal provides a user-friendly interface for students to submit their loan applications conveniently.
“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.
“Students can access the portal on www.nelf.gov.ng to begin application.”
