Sixteen additional state-owned tertiary institutions have been integrated into the Nigerian Education Loan Fund (NELF) student loan scheme.
This expansion, announced via the Fund’s official handle on X (@NELFUND), elevates the total number of registered state-owned institutions to 86.
“Following our previous announcements onboarding 70 state-owned tertiary institutions to the Nigerian Education Loan Fund Student Loan applications portal, we are delighted to share that an additional 16 state-owned institutions have now been added to the portal,” the Fund disclosed on Thursday.
This strategic augmentation aims to broaden the reach and impact of the student loan programme, ensuring more students across Nigeria can benefit. The Fund emphasised the importance of timely and accurate data submission from institutions yet to participate, to maximise the programme benefits for their students.
At least 1.2 million students are projected to gain from this cornerstone initiative of President Bola Tinubu’s administration.
The president sanctioned an initial N35 billion for the scheme’s commencement, following the law’s enactment on April 3. The loan disbursement to eligible students began last week, marking a crucial step in the government’s commitment to educational support and empowerment.
Institutions and students alike are encouraged to engage proactively with the Fund to fully leverage this opportunity, furthering the mission of educational advancement and financial support across Nigeria.
