Student Loan To Extend To State Institutions In Three Weeks Time
The Nigerian Education Loan Fund (NELFUND) says the student loan will be extended to state-owned tertiary institutions in three weeks.
On May 24, the student loan application portal was launched.
Before the rollout of the student loan, NELFUND said students of federal universities, polytechnics, and colleges would benefit from the first phase of the student loan.
However, NELFUND clarified that the student loan second phase will extend student loans to state-owned institutions.
Speaking at a press briefing on Thursday, Akintunde Sawyerr, NELFUND managing director, said since the launch of the student loan, an overwhelming response has been received, with over sixty thousand students successfully registering on the student loan application portal.
“This for us has been an overwhelming response and it serves as a testament to the critical need for financial assistance amongst our student population and we remain committed to addressing this urgent demand,” Akintunde Sawyerr said.
Akintunde Sawyerr said student loan registrations do not necessarily translate to completed student loan applications by the students, adding that of the figure, only thirty thousand students have successfully applied for the student loan.
The managing director of NELFUND Akintunde Sawyerr said in line with NELFUND’s commitment to higher education, it will “commence accepting applications from students attending state-owned tertiary institutions in three weeks time”.
When asked about the exact date, Akintunde Sawyerr said the fund aims to start receiving student loan applications on June 25. However, Akintunde Sawyerr added that the date remains tentative with factors like data upload by institutions.
“We request all state institutions to submit their students data immediately in order to facilitate a smooth and seamless application process,” Akintunde Sawyerr said.
Akintunde Sawyerr revealed that over 90% of federal institutions of higher learning have submitted their student data to the fund.
“However, we urge the remaining two federal universities and five federal polytechnics to expedite the process to ensure that all eligible students can access financial support, so that we can expand to state-owned tertiary institutions,” Akintunde Sawyerr said.
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