The student loan programme will take off on Friday with 1.2 million students in federal tertiary institutions across the country.
This was disclosed by Akintunde Sawyerr, the managing director/chief executive officer of the Nigeria Education Loan Fund (NELFUND), during a pre-application sensitisation press conference in Abuja, on Monday.
He said 1.2 million students in federal universities, polytechnics, colleges of education, and technical colleges would benefit from the first phase.
Data obtained from the National Universities Commission website indicated that the nation has 226 federal tertiary institutions comprising 62 universities, 41 polytechnics, 96 monotechnics and 27 colleges of education.
Addressing journalists on Monday, ahead of the opening of Friday’s portal, Sawyerr said, “There are approximately 1.2 million students in federal tertiary institutions owned by the government. Today, by inference, 1.2m students maximum at the federal level (will benefit), but there might be an opportunity to increase the capacity in terms of more institutions, and when we begin to bring in state-owned institutions, then the numbers can go up.’’
He explained that only students whose institutions had uploaded their data on the Fund’s dashboard would be eligible to apply.
While calling on students in federal tertiary institutions to visit the website, www.nelf.gov.ng to apply from May 24, the CEO added that students in state universities and vocational skills centres could apply at a later date.
He said the requirements to apply include the admission letter from the Joint Admissions and Matriculation Board, National Identity Number, and Bank Verification Number as well as completed application forms from its website.
“The loan application process has been streamlined to ensure easy access for all eligible students in federal tertiary institutions. Applicants can access online support to assist with any questions or concerns during the application process.
“We believe that education is a vital investment for the future. We envisage that the student loan initiative of Mr President is a testament to this commitment,” he said.
One of the key features of the programme, he stressed, is the absence of physical contact between the loan applicant and NELFUND.
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