The Nigerian Education Loan Fund (NELFUND) will open student loan applications for state-owned tertiary institutions in three weeks, expanding access to higher education financing after an overwhelming response from federal institutions.
Nigeria's drive to make higher education more accessible is taking a significant step forward, with the Nigerian Education Loan Fund (NELFUND) announcing that the student loan scheme will be open to state-owned tertiary institutions in three weeks. The announcement comes after a successful initial rollout phase that saw an overwhelming response from students across federal universities, polytechnics, and colleges.
Speaking at a press briefing on Thursday, Akintunde Sawyerr, NELFUND's managing director, revealed that since the scheme's launch on May 24, over 60,000 students have successfully registered on the portal. However, he clarified that registrations do not necessarily translate into completed applications, with only 30,000 students having successfully applied so far.
"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," Sawyer said.
In line with NELFUND's commitment to higher education, Sawyerr announced that the fund would "commence accepting applications from students attending state-owned tertiary institutions in three weeks." While an exact date is yet to be confirmed, the managing director indicated that the fund aims to start receiving applications from state-owned institutions on June 25, subject to factors such as data upload by the institutions.
Sawyerr urged all state institutions to submit their students' data immediately to facilitate a smooth and seamless application process. He also disclosed that over 90 percent of federal institutions of higher learning have already submitted their student data to the fund, but urged the remaining two federal universities and five federal polytechnics to expedite the process to ensure that all eligible students can access financial support.
The student loan scheme's expansion to state-owned institutions marks a significant milestone in Nigeria's efforts to address the financial barriers that have historically hindered access to higher education for many students.
