30,000 Students Successfully Applied For Student Loan

The Managing Director of the Nigerian Education Loan Fund, Akintunde Sawyerr during press conference said a total of thirty thousand students have successfully applied for the student loan.

Similarly, over sixty thousand students have applied on the student loan portal of the fund.

The Managing Director of the Nigerian Education Loan Fund, Akintunde Sawyerr, disclosed this in a press briefing in Abuja on Thursday.

On June 12, 2023, President Bola Ahmed Tinubu signed the Access to Higher Education Act, 2023 into law to enable indigent students to access interest-free student loan for their educational pursuits in any Nigerian tertiary institution.

The move was in “fulfillment of one of his campaign promises to liberalise funding of education,” a member of the then Presidential Strategy Team, Dele Alake, said.

The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund to process all student loan requests, grants, disbursement, and recovery.

Although the government initially announced that the student loan would be launched in September, it suffered several delays leading to an indefinite postponement in early March.

The Presidency had linked the delay to President Bola Ahmed Tinubu’s directive to expand the student loan scheme to include student loan for vocational skills.

After receiving a briefing from the NELFUND team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Bola Ahmed Tinubu had directed the Fund to extend interest-free student loans to Nigerian students interested in skill-development programmes.

Source: https://punchng.com/just-in-30000-successfully-registered-for-student-loan-nelfund/