FG Announces Date to Open Student Loan Portal

The Nigerian government has finally announced that the application portal for the much touted student loan will open on Friday, 24 May.

This is contained in a statement issued by the management of the Nigerian Education Loan Fund (NELFUND), the body saddled with the responsibility to manage and disburse the loans to interested students.

This is coming eight months after the programme failed to kick off in September 2023 earlier announced by President Bola Tinubu

The president had earlier given the September 2023 date before it was later moved to January. However, the President later recalled the earlier law passed and presented a modified copy which addressed some of the grey areas identified by concerned Nigerians.

In a statement issued by NELFUND and signed by its spokesman, Nasir Ayitogo, the organisation gave the new date for the opening of the portal as 24 May.

The statement reads in part: “The management of Nigerian Education Loan Fund (NELFUND) led by its Managing Director, Mr Akintunde Sawyer are thrilled to announce 24th of May, 2024 as official date for the opening of portal for student loan applications.

“This marks a significant milestone in the commitment of President Bola Ahmed Tinubu (GCFR) to fostering accessible and inclusive education for all Nigerian students. Through the portal, students can now access loans to pursue their academic aspirations without financial constraints. The portal provides a user-friendly interface for students to submit their loan applications conveniently.”

The agency urged eligible students of tertiary institutions and accredited skill acquisition centres nationwide “to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.”

The agency said the portal can be accessed via www.nelf.gov.ng, also urging them to seek more information and assistance through the agency’s verified social media handles to avoid being duped by fraudulent persons.

In June 2023, President Bola Tinubu signed the Access to Higher Education Act that creates a legal framework for granting loans to indigent or low-income Nigerians to facilitate the payment of their tuition fees in Nigerian universities.

The Nigerian Education Loan Fund (NELFUND) is the creation of the Access to Higher Education Act, 2023. NELFUND is the body created by the Act to handle all loan requests, grants, disbursement, and recovery of the loans provided.

In April, the President signed an amended version of the bill.

The Fund, according to the Act, is to be funded from multiple streams and will engage in other productive activities.

It will also be funded through donations, gifts, grants, endowment, and revenue accruing to the fund from any other source, according to the Act.

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