Jubilation as FG Confirms Date For Opening of Portal for Student Loan Applications

• The portal for the much-awaited student loan applications will open on Wednesday, February 21 for interested applicants
• President Bola Ahmed Tinubu is expected to launch the scheme for Nigerian students in higher institutions
• The executive secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr said the application process will be fully technology-driven

Legit.ng journalist Adekunle Dada has over 5-year-experience covering basic and tertiary education in Nigeria and worldwide

FCT, Abuja - President Bola Ahmed Tinubu will launch the much-awaited student loan scheme in Abuja on Wednesday, February 21.

According to TheCable, sources said the launch had been on hold till now in order “to perfect the administrative and logistical infrastructure.”

The application portal will be unveiled at the launch on the same date, where applicants will provide basic personal data such as their national identification number (NIN), bank verification number (BVN) and JAMB number which will be in their digital records for seamless verification.

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Legit.ng recalls that the loan is open to Nigerian students in higher institutions. Successful applicants are expected to start paying within two years of earning an income after national youth service.

The executive secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, confirmed the launch date

“The portal will go live on February 21. The application process will be fully technology-driven. This is to create a level field for eligible students by removing avenues for graft, bias and prejudice usually associated with human interaction.”

FG gives new update on student loan

In a similar story, Legit.ng reported that the federal government of Nigeria will open the website for the much-anticipated student loan soon. The minister of state for education, Yusuf Sununu, said the January 2024 date for the take-off of the student loan was still in place.

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Sunubu added that a website had already been working for interested Nigerian university students with the requisite criteria. The minister disclosed the update on Wednesday, January 17, while briefing state house correspondents after the first federal executive council (FEC) meeting for 2024.

The education minister said: “January is a reality. Already the website is almost done. Application for beneficiaries is going to be online…and you can access your loan within 30 days."

Source: Legit.ng