NELFUND to Assist 1.2M Students in Federal Tertiary Institutions

By Olaide Ajibola, JKNMedia Reporter

UP TO 1.2 MILLION students from federal tertiary institutions will be eligible for loans in the Nigerian Education Loan Fund’s (NELFUND) first phase, as announced by Akintunde Sawyerr, Managing Director of NELFUND.

The application portal, set to launch formally on Friday, will open on May 24 for students from institutions that have completed data uploads.

Key features of the student loan scheme include a fully online application process with no need for physical interactions with NELFUND, a user-friendly portal, comprehensive online support, and flexible repayment plans, according to Sawyerr.

He urged students to apply promptly to ensure their applications are processed on time, highlighting the importance of this financial assistance in allowing students to focus on their academic pursuits without financial stress.

He also said that this initiative aligns with President Bola Tinubu’s Renewed Hope Agenda, aimed at providing financial relief to needy students.

Sawyerr then emphasized that the scheme is designed to cover 100% of institutional fees, which will be paid directly to the educational institutions, and will also provide monthly stipends to students during the academic sessions.

He said the NELFUND) is set to roll out its student loan project to cater for up to 1.2 million students enrolled in federal tertiary institutions, advising students to be on the lookout by May 24 for the opening of the application portal.

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