The Nigerian Education Loan Fund (NELFUND) has announced 137 federal institutions now collaborating to facilitate student loans across the country.
The announcement made on NELFUND’s website however, did not specify the names of these institutions or clarify whether they are exclusively federal government institutions or include state-controlled ones. The data insight section on the website simply noted, “137 collaborating with esteemed institutions.”
In a recent interview NELFUND’s Head of Media, Nasir Ayitogo, confirmed that the collaborating institutions are federal institutions. This aligns with NELFUND’s mission to support students in federally-funded educational establishments.
NELFUND plans to release a comprehensive list of institutions that have submitted their student data for verification on the NELFUND Student Verification System portal. This forthcoming list will include both federal and state-owned institutions, promoting transparency and encouraging broader participation in the student loan scheme.
The push for enhanced educational funding received a significant boost on April 3, when President Bola Tinubu signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law. This Act empowers NELFUND to provide loans for tuition, fees, charges, and upkeep for qualified Nigerian students attending approved public tertiary institutions and vocational and skills acquisition centers across Nigeria.
Akintunde Sawyerr, NELFUND’s Managing Director, emphasized that student access to these loans heavily depends on the responsiveness of their institutions. He also noted that over 90% of federal institutions had already collaborated with the Fund.
The establishment of the Student Loans Act and the active participation of federal institutions mark a critical step towards achieving broader educational access and financial support for Nigerian students, fostering an environment where higher education is attainable for all.
For more information, students and interested parties are encouraged to visit the NELFUND website or contact their respective institutions to understand the application process and eligibility criteria for the student loan program.
