The Nigerian Education Loan Fund has authorized 22 additional state-owned tertiary institutions to apply for student loans.
“The Nigeria Education Loan Fund has announced that students from the following 22 state-owned tertiary institutions can now apply for loans on its portal: nelf.gov.ng
“This followed a review by the committee responsible for the Student Verification System. Prior to this, 86 state-owned institutions were cleared, bringing a total of 108 institutions whose students are now able to apply,” the statement posted via @NELFUND on X said.
The onboarding of the 22 state-owned institutions brings the total number of approved state institutions to 108.
The implementation of the student loan scheme is President Bola Tinubu’s flagship project in the education sector.
Barely a month after his inauguration as president, Tinubu signed the Access to Higher Education Act, which creates a legal framework for granting loans to indigent or low-income Nigerians to facilitate the payment of their fees in Nigerian tertiary institutions.
The law, reenacted earlier this year, created the Nigerian Education Loan Fund.
NELFUND is saddled with the responsibility of handling all loan requests, grants, disbursement, and recovery.
The fund, according to the act, is to be funded from multiple streams and will engage in other productive activities.
