The Nigerian Education Loan Fund (NELFUND) has announced that students from state universities will be able to access the federal government’s student loan scheme within the next three weeks. This update was revealed by NELFUND Managing Director Akintunde Sawyerr during a press briefing in Abuja on Thursday.
Since the launch of the loan fund’s website, it has garnered over 60,000 visitors. Sawyerr also highlighted that over 90% of federal institutions have already submitted their student lists, with only two federal universities and two federal polytechnics yet to comply.
The student loan scheme, established under the Access to Higher Education Act, 2023, signed by President Bola Tinubu on June 12, 2023, aims to provide interest-free loans to indigent students across Nigerian tertiary institutions.
Initially delayed due to the President’s directive to expand the scheme to include vocational skills training, the loan fund now promises broader access and support for educational and skill-development pursuits.
This initiative marks a significant step in fulfilling President Tinubu’s campaign promise to make education more accessible by liberalizing its funding.