Managing Director of Nigerian Education Loan Fund, NELFUND, Akintunde Sawyerr, has stated that the opening phase of the students loan will only accommodate a maximum of 1.2 million students across federal tertiary institutions.
Mr Sawyerr disclosed this ahead of the portal’s formal launch for applications on Friday.
He said students who enrolled in federal tertiary institutions whose institutions have finished uploading their data would be able to apply in the first phase.
He said that potential candidates can start the application process as early as May 24, and that the loan application process has been simplified to provide simple access for all qualified students in federal tertiary institutions.
He pointed out that the Fund will pay 100 percent of institutional fees directly to the institutions of learning account while providing stipends to students on monthly based when school is in session.
He warned that no physical contact between the loan applicant and NELFUND, noting that the application portal is user-friendly which provides comprehensive support where applicants can access online support to assist on flexible repayment plans.
He said “We encourage all students in federal institutions to take advantage of this opportunity to secure the required financial assistance for their education. Applicants must submit their applications as early as possible to ensure timely processing.”
