Only applicants from federal institutions can access student loan now – FG

  The Federal Government has said only students in federal tertiary institutions in Nigeria will have access to the student loan in its opening phase.

Managing Director of Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, disclosed this while speaking ahead of the portal’s formal launch for applications on Friday, in Abuja.

According to him, students enrolled in federal tertiary institutions whose institutions have finished uploading their data would be able to apply in the first phase.

Sawyerr stated that potential candidates can start the application process as early as May 24, but stressed that the loan application process has been simplified to provide simple access for all qualified students in federal tertiary institutions.

The Student Loan programme is an essential part of President Bola Tinubu’s administration’s Renewed Hope Agenda. It is designed to give needy students financial support so they can pursue their academic objectives without worrying about the financial burden.

Sawyerr said the Fund will pay 100 percent of institutional fees directly to the institutions of learning account while also providing stipends to the students monthly based on when school is in session.

“We encourage all students in federal institutions to take advantage of this opportunity to secure the required financial assistance for their education. Applicants must submit their applications as early as possible to ensure timely processing,” he said.