NELFund Applications Reach 400,000 as FG Gives Assurance to University Students, Details Emerge

• The Nigerian Education Loan Fund (NELFund) has forwarded lists of thousands of students whose loan applications have been approved to respective higher institutions
• Legit.ng reports that NELFund is the official federal government agency in charge of student loans in the country
• NELFund urged students in public tertiary institutions to complete their verification process and proceed with their loan application

Legit.ng journalist, Ridwan Adeola Yusuf, has over 9 years of experience covering basic and tertiary education in Nigeria and worldwide.

Ibadan, Oyo state - The Nigerian Education Loan Fund (NELFund), has said that there is no timeframe for the disbursement of the money to students of the nation's universities.

Nasir Ayitogo, the spokesperson of NELFund, said this while responding to the concerns of expectant beneficiaries who fear they may miss the payment deadline for their school fees.

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The worried students had applied for NELFund's institutional charges.

The agency revealed that so far, it has less than 500,000 applications, adding that presently, it has the capacity to pay more than 1.2 million Nigerian students.

NELFund assured that any undergraduate who has successfully applied for the initiative will benefit.

The Cable, in a recent report, quoted Ayitogo as saying:

“The application process itself is a form of screening. You cannot go through a particular stage if you don’t have some required details. But if you have applied successfully, you’re 99.9 percent certain to get the loan. We have funds to cover over 1.2 million students.

“And so far, we have less than 500,000 applications. So, we have enough funds to go around for every student. Money is not the issue.”

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Legit.ng recalls that President Bola Ahmed Tinubu, in July 2024, launched the digital NELFund disbursement exercise.

The Nigerian leader said the provision of loans to students will encourage more people to seek knowledge, go for higher education, and become valuable contributors to national development.

Read more on NELFund

• Tinubu's student loan: Full list of institutions NELFund disbursed funds to and amount
• More students to benefit: NELFund extends loan programme to 40 additional institutions
• Step-by-step procedures for student loan disbursement
• Over 60,000 apply for NELFund loans in 1 week
• NELFund: Jubilation as university students receive loan alerts, share how they spend funds

NELFund continues sensitisation

Earlier, Legit.ng reported that Akintunde Sawyerr, NELFund's managing director, acknowledged the challenges of delays in the disbursement of the student loan scheme.

The NELFUND boss assured students that their concerns were being addressed to improve efficiency.

Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng