₦airaland Forum

The Nigerian education loan fund (NELFUND) said it had had over 9.5 million visits, with over 6, 000 applications for loans from students in federal tertiary institutions since it opened its portal last Friday.

The Managing Director of the fund, Akintunde Sawyerr, while briefing the press at a post-application launch conference on Thursday, said over 90 per cent of federal tertiary institutions have submitted the data of their students with about five institutions remaining.

He also revealed that in three weeks, the fund would democratise the loans following the outcry from students in state-owned tertiary institutions, thereby opening its portal for students in state institutions to apply for the loan.

Sawyerr urged the authorities of the state tertiary institutions to begin to submit the data of its students to ensure that the process is seamless.

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

The move was in “fulfilment 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 loan requests, grants, disbursement, and recovery.

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

The Presidency had linked the delay to Tinubu’s directive to expand the scheme to include loans for vocational skills.

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

Tinubu based his decision on the need for the scheme to accommodate those who may not want to pursue a university education, noting that skill acquisition is as essential as obtaining undergraduate and graduate academic qualifications.

“This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas.

“This is not only for those who want to be doctors, lawyers, and accountants. It is also for those who aspire to use their skilled and trained hands to build our nation.

“In accordance with this, I have instructed NELFUND to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education,” he said.

Source: https://www.channelstv.com/2024/05/30/student-loan-applications-hit-6000-in-seven-days-says-nelfund/amp/

One good thing from this is that state universities student can start applying too within 3 weeks.

He also revealed that in three weeks, the fund would democratise the loans following the outcry from students in state-owned tertiary institutions, thereby opening its portal for students in state institutions to apply for the loan.

Okqy.

This opportunity needs more publicity

I feel like crying, people are really suffering, 6k applicants in 7 days

One of the impactful policies of government in recent times.. not spending billions sending pple to foreign lands for pilgrimage.. and other forms of waste I wouldn't want to waste time listing..

Wow...nice development

I guess post graduate students are not included in the loan thingy

Idun2024:
Hehehe

They are coming to wail again.

I mean the cursed tribe

Borrow borrow tribe.

They’re all over X and Here begging for money to eat ewedu and Amala

Idun2024:
Hehehe

They are coming to wail again.

I mean the cursed tribe

Fella, you look more stupid doing this tribal thing..

There's more to life than soliciting cheap likes and recruiting quality idiots like yourself.

#SayNoToTribalism. We are first Nigerians.

Hunger in town

Emmanuel909090:
I feel like crying, people are really suffering, 6k applicants in 7 days

To be honest, I was expecting to see more than 6k applications. If after 7 days, only 6k people applied, to me it's a fair figure...cos I was expecting over a hundred thousand applicants.

Idun2024:
Hehehe

They are coming to wail again.

I mean the cursed tribe

Be careful, u this lunatic.

You can't support this government without sounding like a dimwit lowlife.

Batidiots are id!ots on another level, a hopeless level.

Pls share the link oo

Emmanuel909090:
I feel like crying, people are really suffering, 6k applicants in 7 days

Mediocres are celebrating it because they don't know what it means.

We Anambra no dey carry last,half of that number is from Anambra.

EMXTAN1:
One of the impactful policies of government in recent times.. not spending billions sending pple to foreign lands for pilgrimage.. and other forms of waste I wouldn't want to waste time listing..

Cold azul for you

The money that is for who knows someone who is in power in Abuja

too poor. declare vacancies in national dailies let s see

Noted.

too poor. declare job vacancies in national dailies let s see

Mnewton:
I guess post graduate students are not included in the loan thingy

.

A good observations but the Govt should include the Post Graduate - Masters and PhD level as well.
It's a New Dawn - for Educational Development in Nigeria.
We must support the government,in this regards,to yield 🍓 fruits.

Una they cast students so are going to start disbursement, I heard some of the institution has started exams already y'all need to do d needful...

Those Obidients will apply too but will still be insulting the FG.

Av dollar come down to #216 If not never expect positive things from so called APC leaders and their useless supporters trust me

Student loan wey we wan use chop then use the rest play SportyBet.

Una dey whine?