Student Loan: NELFUND Suspends Applications From State-owned Institutions

The management of Nigerian Education Loan Fund (NELFUND) has announced a 14-day postponement of the application process for student loans from state-owned tertiary institutions due to low data submissions.

NELFUND’s head of media and public relations, Nasir Ayitogo, said the decision was necessitated by the failure of several state-owned institutions to upload the required student data and fees information to the NELFUND Student Verification System (SVS).

According to him, only a limited number of state-owned institutions had successfully completed the data submission process.

“These include 20 state universities out of 48, 12 state colleges out of 54 and 2 state polytechnics out of 49.

“While we acknowledge the efforts of these institutions, the failure to submit data from the remaining state institutions poses significant challenges to ensuring a seamless and accurate verification process for student loan applicants,” he said.

LEADERSHIP reports that the application window, initially set to open on June 25, 2024, will now commence on July 10, 2024.

He added; “This extension will provide additional time for state institutions to comply with the data submission requirements and ensure their students can benefit from the Federal Government student loan scheme.

“To facilitate an efficient and error-free application process, it is crucial that all state institutions provide complete and accurate information.

“This includes JAMB numbers, matriculation numbers, admission numbers, full names, level, faculties, departments, duration of program, fees and gender of all eligible students.”

He further said incomplete or incorrect data submissions will result in application delays and potential disqualification of affected students.

The Fund, however, urged all state-owned institutions to expedite their data submission processes and ensure the accuracy of the information provided.

“Institutions that fail to meet the revised deadline risk disadvantaging their students, who depend on these loans to support their education.

“The Fund appreciates cooperation of institutions that have already completed their submissions and encourage others to follow suit promptly,” he added.