HomeEDUCATIONNELFUND Announces 1.2 Million Students Eligible for Student Loan Program

NELFUND Announces 1.2 Million Students Eligible for Student Loan Program

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Afor Kenneth

The Nigeria Education Loan Fund (NELFUND) has announced that 1.2 million students enrolled in federal institutions across the country will be eligible to receive financial assistance through the initial pilot phase of its student loan program.

This information was disclosed by Akintunde Sawyerr, the Managing Director and Chief Executive Officer of NELFUND, during a pre-application press conference held in Abuja on Monday.

Sawyerr highlighted that the primary objective of the loan scheme is to provide monetary support to students pursuing higher education, thereby alleviating the financial burdens faced by many Nigerian families.

He emphasized the government’s commitment to ensuring that no qualified student is deprived of educational opportunities due to financial constraints.

“We have 1.2 million students in Nigeria today in Federal Government-owned tertiary institutions,” he said at the event.

“1.2 million is the maximum we can accommodate at the federal level. There might be opportunities to increase capacity but will work now with available spaces.”

According to Sawyerr, comprehensive measures have been implemented to ensure a smooth launch and operation of the student loan scheme. The online portal for submitting applications will go live this Friday, May 24, 2024, enabling students to initiate the process of securing educational loans from NELFUND.

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