NELFUND, the Nigerian Education Loan Fund, has announced the launch of a student loan application portal slated to open on May 24, 2024. This development was heralded in a release by Nasir Ayantogo, the head of communications for the Fund.
The launching of this digital application platform is a significant stride in President Bola Tinubu’s push towards ensuring education is widely accessible to all students in Nigeria.
This initiative traces back to the Access to Higher Education Act, 2023, that the President enacted on June 12, 2023, which grants deserving students access to interest-free educational loans within any tertiary institutions across Nigeria.
The act was one of the President’s pledges to democratize the financing of education, as highlighted by Dele Alake, a former member of the Presidential Strategy Team.
Moreover, this legislative piece led to the formation of NELFUND, the agency responsible for overseeing the entire lifecycle of education loans, from application to repayment.
While initial plans to unveil the scheme in September encountered setbacks, resulting in a postponement earlier in March, recent developments have steered the project back on track.
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President Tinubu, advocating the expansion of the loan program to encompass vocational skills, drove this progress, addressing the briefing by NELFUND and the Minister of State for Education, Dr. Yusuf Sununu, on January 22.
Tinubu’s vision is to make the loan scheme inclusive, inviting participation from youth with diverse ambitions, whether they aspire to academic heights or skill-based vocations.
“Every young Nigerian has unique talents to offer. This scheme is not only tailored for future professionals, but it equally champions those who will shape our future through their skills and labor.
“I have mandated NELFUND to integrate opportunities that support skill-developing programs, acknowledging that not everyone might seek a conventional university education,” he stated.
Thanks to this portal, students across Nigeria can now navigate financial hurdles as they pursue their educational goals.
Designed for ease of use, the online portal promises smooth submission of student loan applications.
All qualified students are encouraged to seize this opportunity to further their education and contribute to the progress of our country.
For loan applications, students can access the portal at www.nelf.gov.ng.
