Student Loan Application Deferred Due to Incomplete Data Submissions

By Ajibola Olaide, JKNMedia Reporter

A 14-DAY delay has been announced by the Nigerian Education Loan Fund (NELFUND) in the commencement of the student loan application process for state institutions.

This unexpected postponement, moving the application start date from June 25, 2024, to July 10, 2024, is attributed to insufficient data submissions from many state-owned institutions.

NELFUND says numerous state universities, colleges, and polytechnics have yet to upload the necessary student data and fee information to the NELFUND Student Verification System (SVS).

It notes that this step is essential for the verification and processing of student loan applications, stating that out of the 48 state universities, only 20 have completed their data submissions.

Similarly, only 12 out of 54 state colleges and 2 out of 49 state polytechnics have fulfilled this requirement, NELFUND discloses.

The lack of data from the remaining institutions presents a significant hurdle to ensuring a smooth and accurate verification process for loan applicants, NELFUND emphasizes, so also is the importance of a comprehensive and error-free submission of student details.

The required information includes JAMB numbers, matriculation numbers, admission numbers, full names, levels, faculties, departments, program durations, fees, and gender of all eligible students, it adds.

Institutions that fail to meet the revised deadline risk disadvantaging their students, potentially causing delays or disqualification in the loan application process; that is why this extension is designed to give institutions additional time to comply fully with the data submission requirements, ensuring their students can benefit from the federal government’s student loan scheme.

NELFUND then urges all state institutions to expedite their data submission processes and ensure the accuracy of the information provided as incomplete or incorrect submissions will not only delay the application process but may also result in students missing out on crucial financial support for their education.

“The management appreciates the cooperation of those institutions that have already completed their submissions and encourages others to follow their lead promptly to avoid any negative impact on their students’ educational funding,” NELFUND states.

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