The Nigerian Education Loan Fund (NELFUND) says the student loan scheme will be open to state-owned tertiary institutions in three weeks.
On May 24, the NELFUND portal went live.
Before the rollout of the scheme, NELFUND said students of federal universities, polytechnics, and colleges would benefit from the first phase of the scheme.
However, NELFUND clarified that the scheme’s second phase will extend loans to state-owned institutions.
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Speaking at a press briefing on Thursday, Akintunde Sawyerr, NELFUND managing director, said since the launch of the scheme, an overwhelming response has been received, with over 60,000 students successfully registering on the portal.
“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,” he said.
He said registrations do not necessarily translate to completed applications by the students, adding that of the figure, only 30,000 have successfully applied.
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The managing director said in line with NELFUND’s commitment to higher education, it will “commence accepting applications from students attending state-owned tertiary institutions in three weeks time”.
Asked about the exact date, he said the fund aims to start receiving applications on June 25. However, he added that the date remains tentative with factors like data upload by institutions.
“We request all state institutions to submit their students data immediately in order to facilitate a smooth and seamless application process,” he said.
Sawyerr disclosed that over 90 percent of federal institutions of higher learning have submitted their student data to the fund.
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“However, we urge the remaining two federal universities and five federal polytechnics to expedite the process to ensure that all eligible students can access financial support, so that we can expand to state-owned tertiary institutions,” he added.
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