By Jemimah Wellington, JKNMedia Reporter
THE FEDERAL Government, through the Nigerian Education Loan Fund (NELFUND), has confirmed that the portal for student loan applications will officially open on May 24, 2024.
This announcement was made in a statement released by Nasir Ayantogo, the media lead for NELFUND.
Ayantogo highlighted that the inauguration of the application portal represents a pivotal step in President Bola Tinubu’s initiative to promote accessible and inclusive education for all Nigerian students.
This effort aligns with the Access to Higher Education Act, 2023, which President Tinubu signed into law on June 12, 2023. The Act aims to provide interest-free loans to indigent students attending any tertiary institution in Nigeria.
Dele Alake, a member of the former Presidential Strategy Team, remarked that this move fulfills one of Tinubu’s key campaign promises to democratize educational funding.
The Students Loan Law, as the Act is popularly known, also established the Nigerian Education Loan Fund to manage the processing, disbursement, and recovery of student loans.
Initially slated for a September launch, the scheme faced several delays, resulting in an indefinite postponement in early March.
The Presidency attributed these delays to President Tinubu’s directive to broaden the scope of the scheme to include vocational skills loans.
On January 22, following a briefing from the NELFUND team led by the Minister of State for Education, Dr. Yusuf Sununu, President Tinubu instructed that interest-free loans should also be available to Nigerian students pursuing skill-development programs.
He emphasized that the initiative should support those who may prefer vocational training over traditional university education, recognizing the equal importance of skill acquisition and academic qualifications.
“This is not an exclusive program,” President Tinubu stated. “It is catering to all of our young people. Young Nigerians are gifted in different areas. This is not only for those who want to be doctors, lawyers, and accountants.
It is also for those who aspire to use their skilled and trained hands to build our nation. In accordance with this, I have instructed NELFUND to explore all opportunities to inculcate skill-development programs because not everybody wants to go through a full university education.”
The newly launched portal offers a user-friendly interface for students to conveniently submit their loan applications. “We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation,” the statement added.
NELFUND say students can access the application portal at www.nelf.gov.ng to commence their application process.
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