Student Loans to Benefit Federal Institution Students Only - FG

Student Loan Application Form
Student Loan Application FormGoogle Photos

The Nigeria Education Loan Fund is set to launch the Students' Loan portal this Friday, starting with students in federal tertiary institutions.

Only students from institutions that have uploaded their data on the Fund's dashboard will be eligible to apply, as stated by the Managing Director/Chief Executive Officer, Akintinde Sawyerr, during a Pre-Application Sensitisation Press Conference in Abuja on Monday.

The first phase of the scheme aims to benefit 1.2 million students from federal government-owned universities, polytechnics, colleges of education, and technical colleges.

Students in federal tertiary institutions are encouraged to apply from May 24 via the website, while those in state universities and vocational skills centers will have their application window at a later date.

Applicants are required to submit documents such as the Joint Admission and Matriculation Board admission letter, National Identity Number, Bank Verification Number and a completed application form from the Fund's website.

The loan application process has been simplified to ensure easy access for eligible students, with online support available for assistance during the application process.

One notable feature of the program is the absence of physical contact between the applicant and NELFUND, with a user-friendly portal interface for the convenient submission of loan applications.

Successful applicants will not only receive interest-free loans but also monthly stipends for upkeep, with the exact amount subject to evaluation based on various factors.

The Fund emphasizes the importance of timely application submission and highlights that fees will be paid directly to the institution, capped at the maximum fee per session.

President Bola Tinubu's recent enactment of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, underscores the commitment to providing equal educational opportunities for all students, irrespective of their background.

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