The Nigerian Education Loan Fund has approved 22 additional state-owned tertiary institutions for student loan applications after a review by the committee overseeing the Student Verification System.
Students from these institutions can now apply for loans via the NELFUND portal: nelf.gov.ng. Previously, 86 state-owned institutions received clearance which resulted in a total of 108 institutions eligible for student loan applications. The inclusion of these 22 institutions expands the number of approved state institutions to 108.
Shortly after taking office, President Tinubu enacted the Access to Higher Education Act, establishing a legal framework for providing loans to low-income Nigerians for their education in tertiary institutions. The law, reestablished earlier this year, led to the creation of the Nigerian Education Loan Fund.
NELFUND manages all loan requests, grants, disbursements, and recovery efforts. The fund will receive financing from various sources and engage in productive activities.
