Npower News: Only Applicants From Federal Institutions Can Access Student Loan
According to Npower News, the Managing Director of Nigerian Education Loan Fund, Mr. Akintunde Sawyerr, has revealed that a maximum of 1,200,000 students across federal tertiary institutions will have access to the student loan in its opening phase.
Speaking ahead of the student loan application launch on Friday, Akintunde Sawyerr, stated that students enrolled in federal tertiary institutions whose institutions have finished uploading their data would be able to apply for the student loan in its first phase.
According to Npower News, Mr. Akintunde Sawyerr, stated that potential candidates can start the student loan application process as early as May 24, but emphasized that the student loan application process has been made easy to provide easy access for all eligible students in federal tertiary institutions.
According to Mr. Akintunde Sawyerr, the student loan program is an essential part of President Bola Ahmed Tinubu’s administration’s Renewed Hope Agenda.
The purpose of the student loan is to give students in financial needs financial assistance so that they can pursue their academic aspirations, goals and objectives without thinking about the financial challenges.
According to Npower News, Mr Akintunde Sawyerr also added that the Fund will pay 100% of institutional fees directly to the institutions of learning account while also providing stipends to the students monthly based on when school is in session.
Mr. Akintunde Sawyerr emphasized on the importance of some of the key features of the student loan including, no physical contact between the student loan applicant and Nigerian Education Loan Fund, a user-friendly student loan application portal, comprehensive support where the student loan applicants can access online assistance to assist and flexible repayment plans.
Mr. Akintunde Sawyerr said: “We encourage all students in federal institutions to take advantage of this opportunity to secure the required financial assistance for their education. Applicants must submit their applications as early as possible to ensure timely processing.”
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