60,000 Apply For Student Loans In 1 Week

In one week, the Nigerian Education Loan Fund (NELFUND) has received 60,000 applications from students of federal tertiary institutions.

The applications came through its portal, which was opened last Friday.

The applications came from students in 126 federal universities, polytechnics and colleges of education.

The managing director/chief executive officer of NELFUND, Akintinde Sawyerr, disclosed this during a press conference yesterday in Abuja following the application launch.

Sawyer said over 90 percent of federal institutions of higher learning have submitted their students’ data to NELFUND, while urging the remaining two federal universities and five federal polytechnics to expedite the process to ensure that all eligible students can access the financial support.

This is just as he said NELFUND portal will be opened for students in state-owned tertiary institutions on June 25, 2024.

He said, “Since launching our student loan application portal last Friday for students in federal institutions of higher learning, we have witnessed an extraordinary surge in applications, with over 60,000 submissions since inception.

“The overwhelming response serves as a testament to the critical need for financial assistance among our student population, and we remain committed to addressing this urgent demand.

“In line with our commitment to democratise higher education, we are excited to announce that NELFUND will commence accepting applications from students attending state-owned tertiary institutions in three weeks.

“We request all state institutions submit their students’ data immediately, as requested, to facilitate a smooth and seamless application process.”

The NELFUND boss said beyond financial assistance, the agency recognises the profound importance of equipping the youth with practical, market-relevant skills, adding that it would launch a comprehensive skills acquisition programme six months from today, providing training in various vocational and technical fields.

“This programme is designed to prepare students to meet the demands of the modern job market, fostering entrepreneurship and innovation among our young people,” he said.