FG Announces Inclusion of State-Owned Institutions in Student Loan Scheme

• The federal government of Nigeria has announced that it is adding state-owned institutions among the beneficiaries of the student loan scheme
• The students of tertiary institutions, including universities, polytechnics and colleges of education, that are owned by state governments, will now be able to apply for the financial aid
• The government also announced the date for the rolling out of the application form for the much-awaited

The Nigerian Education Loan Fund (NELFUND) has announced that the student loan scheme will extend to state-owned tertiary institutions within three weeks.

This follows the successful launch of the NELFUND portal on May 24, which initially catered to students from federal universities, polytechnics, and colleges.

Speaking at a press briefing on Thursday, NELFUND Managing Director Akintunde Sawyerr shared that the response to the scheme has been overwhelming, with over 60,000 students registering on the portal, as reported by The Cable.

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However, he noted that registration alone does not equate to completed applications, revealing that only 30,000 students have successfully applied so far.

“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,” Sawyerr stated.

In line with NELFUND’s commitment to expanding access to higher education, Sawyerr confirmed that the fund will begin accepting applications from students attending state-owned tertiary institutions starting June 25.

However, he indicated that this date is tentative, depending on the timely submission of student data by the institutions.

“We request all state institutions to submit their student data immediately in order to facilitate a smooth and seamless application process,” he urged.

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Sawyerr also disclosed that over 90 percent of federal institutions have already submitted their student data.

He called on the remaining two federal universities and five federal polytechnics to expedite their submissions to ensure all eligible students can access financial support, enabling the expansion to state-owned institutions.

FG finally sets date for students’ loan take off

Earlier, Legit.ng reported that the Nigerian government stated that the Nigerian Education Loan Fund (NELFund) portal for eligible students will begin in March.

The executive secretary of NELFund, Akintunde Sawyer, disclosed this on Thursday, March 7, 2024, in Abuja.

Source: Legit.ng