The Nigerian Education Loan Fund (NELFUND) says the student loan scheme will be open to state-owned tertiary institutions in three weeks’ time.
NELFUND said students of federal universities, polytechnics, and colleges would benefit from the first phase of the scheme but later clarified that the scheme’s second phase will extend loans to state-owned institutions.
Akintunde Sawyerr, NELFUND managing director, revealed at a press briefing on Thursday that since the launch of the scheme, an overwhelming response has been received, with over 60,000 students successfully registering on the portal.
He said,“This for us has been an overwhelming response and it serves as a testament to the critical need for financial assistance among our student population and we remain committed to addressing this urgent demand.”
According to him, registration does not translate to complete applications by the students, adding that of the figure, only 30,000 have successfully applied.
The managing director said in line with NELFUND’s commitment to higher education, it will begin to accept applications from students attending state owned tertiary institutions in three weeks’ time.
He stated that when data are fully uploaded by institutions, they will start receiving applications on 25 June.
“We request all state institutions to submit their student data immediately in order to facilitate a smooth and seamless application process,” he said.
He also disclosed that over 90 percent of federal institutions of higher learning have submitted their student data to the fund.
