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Report: Nigeria’s student loan program empowers thousands, but challenges remain

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With 332,715 students registered and over 18,000 already receiving payments, the initiative is touted as a major step towards removing financial barriers to education  in Nigeria. The most significant change in the 2024 Education Loan Act is its new governance structure. The Act sets up the Nigeria Education Loan Fund (NELFUND) as a business-focused corporate […]

Report: Nigeria’s student loan program empowers thousands, but challenges remain Read More »

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Five S’East schools get N467m student loan

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No fewer than five tertiary institutions in the South-East have benefited from the Federal Government’s student loan scheme as of September 6, 2024, data obtained from the Nigeria Education Loan Fund revealed. The revelation comes amidst earlier allegations that NELFUND was deliberately shunning schools in the South-East in its disbursement process. Amidst the allegations, NELFUND

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NELFUND plans review of N20,000 students’ loan

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The Nigerian Education Loan Fund said it would constantly review the N20,000 monthly stipends to Nigerian students based on economic realities. The Director of Corporate Communications of the Fund, Oseyemi Oluwatuyi, made this known during an interview with our correspondent in Abuja on Wednesday. Apart from institutional fees, applicants for student loans also have the

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Students await loan disbursement, varsity extends registration deadline

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The management of Bayero University, Kano, on Monday, approved a two-week extension for the registration of undergraduate students for the 2023/2024 academic session. The Deputy Registrar of the Public Affairs of the university, Lamara Garba, said the institution’s management considered the extension to reconcile remittances from the National Students’ Loans Fund for students who had

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Council mobilises Kano students for FG loan

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The Kano State All Progressives Congress Students Council has organised a media briefing to sensitise and enlighten students of higher institutions in the state on the importance of the Nigerian Education Loan Fund and the process of accessing the loan. The Director General of the council, Yahaya Usman, commended President Bola Tinubu’s administration for initiating

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Sanwo-Olu assures LASU students of access to FG loan

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The Governor of Lagos State, Mr Babajide Sanwo-Olu, has said the state would work to ensure that students in the Lagos State University, Ojo, fully benefit from the Federal Government’s student loan being administered by the Nigerian Education Loan Fund. Speaking on Thursday at the 27th Convocation of LASU, Sanwo-Olu explained that under his administration,

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President Tinubu’s team clarifies details of newly enacted student loan program

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President Bola Ahmed Tinubu’s recent signing of the amended student loan bill has sparked numerous inquiries from the Nigerian populace. The bill, which received approval from both the House of Representatives and the Nigerian Senate, has now been clarified by the Special Assistant to President Tinubu on Social Media and National Convener of the PBAT

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FG to fund student loan scheme with education tax – FIRS boss

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The Federal Government on Monday said that the Student Loan Scheme recently initiated by President Bola Tinubu’s administration will be funded through the Education Tax under the Federal Inland Revenue Service, FIRS. Chairman of FIRS, Zacch Adedeji disclosed this while briefing State House correspondents at the Presidential Villa, Abuja. Adedeji, who was flanked by the

FG to fund student loan scheme with education tax – FIRS boss Read More »

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Student loan bill will boost quality education — Firm

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Tertiary education financing digital platform, PressPayNg, has said the legislation and signing of the Student Loan Bill will help young Nigerians access funding for higher education with less stress. A statement by the firm said that the development would also bridge the funding gap experienced by young Nigerians who desired higher education, saying the Act

Student loan bill will boost quality education — Firm Read More »

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