The Nigerian Education Loan Fund, on behalf of the Federal Government, announced on Thursday night that May 24, 2024, is the official date for opening the student loan application portal.
This was made known in a statement signed by the media lead of the Fund, Nasir Ayitogo.
Ayitogo noted that this milestone aligns with President Bola Tinubu’s commitment to providing accessible and inclusive education for all Nigerian students.
The Access to Higher Education Act, 2023, signed by Tinubu on June 12, 2023, enables indigent students to access interest-free loans for their education.
This move fulfills one of Tinubu’s campaign promises to liberalize education funding.
The Act, also known as the Students Loan Law, establishes the Nigerian Education Loan Fund to process loan requests, grants, disbursements, and recovery.
Originally planned for launch in September, the scheme faced delays, leading to an indefinite postponement in early March.
Tinubu’s directive to include vocational skills loans contributed to the delays. Following a briefing on January 22, Tinubu directed the Fund to extend interest-free loans to students interested in skill development programs, emphasizing the importance of skill acquisition alongside academic qualifications.
He said, “This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas.
“This is not only for those who want to be doctors, lawyers, and accountants. It is also for those who aspire to use their skilled and trained hands to build our nation.
“In accordance with this, I have instructed NELFUND to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education.”
The newly opened portal allows students to pursue their academic aspirations without financial constraints by accessing loans.
The user-friendly interface of the portal makes it convenient for students to submit their loan applications.
“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.
“Students can access the portal on www.nelf.gov.ng to begin application,” the statement said.
