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FG Gives Update On Student Loan, Says Students From Federal Institutions Will Be Considered First



Over 60,000 Students Register For Student Loans, Says NELFUND

The Federal Government revealed on Monday that the Nigeria Education Loan Fund will commence with students of federal tertiary institutions.

News About Nigeria reports that the update about the student loan fund is coming a few days before the formal opening of the Students’ Loan Portal, which is slated for this Friday.

The Managing Director/Chief Executive Officer of the Fund, Akintunde Sawyerr, who made this known, also explained that only students whose institutions have uploaded their data on its dashboard would be eligible to apply.

Giving details on how the loan fund would be made available to the students, Sawyerr noted that 1.2 million students from federal government-owned universities, polytechnics, colleges of education, and technical colleges would benefit from the first phase of the scheme.

He, therefore, tasked students from federal tertiary institutions to start applying via the website, ‘’ from May 24, 2024.

Sawyerr also revealed that a later date would be announced for students in state universities and vocational skills centres to apply for the fund.

The Managing Director further listed the requirements to apply, including the Joint Admission and Matriculation Board (JAMB) admission letter, Bank Verification Number (BVN), National Identity Number (NIN), and a completed application form from its website.

Sawyerr said, “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.”