Student Loan: NELFUND Receives 60,000 Applications In 1 Week

The Nigerian Education Loan Fund (NELFUND) has disclosed that over 60,000 students from federal tertiary institutions have so far registered on its portal to apply for loans.

The Managing Director/Chief Executive Officer of the Fund, Akintinde Sawyerr, stated this during a post-application launch press conference in Abuja on Thursday.

It would be recalled that the student loan portal was opened last Friday for applications from students across 126 tertiary institutions, covering Federal universities, Federal Polytechnics and Federal Colleges of Education.

Sawyer also disclosed that over 90% 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 from the Fund.

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 the launch of 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.”

Adding, he said beyond financial assistance, NELFUND recognises the profound importance of equipping the youth with practical, market-relevant skills, saying that in six months from now, it will launch a comprehensive skills acquisition programme, 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,” Sawyerr stated.