The long-awaited Students’ loan initiative by the Bola Tinubu-led administration is finally set to kick off on May 24th, 2024. The Nigerian Education Loan Fund (NELFUND) spokesperson, Nasir Ayitogo, announced that students and skilled workers can begin their loan application process by accessing the portal on www.nelf.gov.ng.
The portal, designed with a user-friendly interface, aims to provide students with the opportunity to pursue their academic goals without financial constraints. Managing Director, Mr. Akintunde Sawyerr, expressed excitement about this milestone, highlighting President Bola Ahmed Tinubu’s commitment to inclusive education for all Nigerian students.
About 1.2 million Nigerian students in tertiary institutions and government-recognized skill acquisition centers are expected to benefit first from this initiative. The recent Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill signed by President Tinubu ensures that no student is denied the chance to build their future, irrespective of their background.
The Act empowers NELFUND to offer loans for tuition, fees, and upkeep during studies in approved institutions. It eliminates family income thresholds, allowing more Nigerian students to apply for loans with a responsibility for repayment as per the Fund’s guidelines.
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