The Nigerian Education Loan Fund (NELFUND) has announced that 36 state-owned tertiary institutions have successfully submitted their student data, making their students eligible for the student loan scheme effective July 7, 2024.

VERIFIED: Nigerians can now earn US Dollars with premium domains just like Americans, acquire for as low as $1200 and you profit $19000 (₦23million). Click here to start.

In a statement released on Sunday, NELFUND emphasized the importance of the Student Verification System (SVS) portal, which these institutions have utilized to upload their complete student data. This development is part of NELFUND’s broader initiative to facilitate access to education through interest-free loans for students.

The eligible institutions span across various states, ensuring that a wide range of students can benefit from the scheme. The list includes:

1. Adamawa State University, Mubi

2. Ramat Polytechnic, Maiduguri

3. Borno State University

4. Mohammed Lawan College of Agriculture, Borno

5. Edo State University, Uzairue

6. Ekiti State University, Ado-Ekiti

7. Gombe State University

8. Kingsley Ozumba Mbadiwe University, Imo

9. Imo State University of Agriculture and Environmental Sciences Umuagwo

10. Nuhu Bamalli Polytechnic, Zaria

11. Yusuf Maitama Sule University, Kano

12. Umaru Musa Yar’adua University, Katsina

13. Katsina State Institute of Technology and Management

14. Kebbi State University of Science and Technology, Aliero

15. Confluence University of Science and Technology, Kogi State

16. Lagos State University of Education

17. Lagos State University

18. Nasarawa State University, Keffi

19. Tai Solarin University of Education, Ogun State

20. University of Medical Sciences, Ondo

21. Osun State University

22. University of Ilesa, Osun

23. GTC, Ara, Osun State

24. GTC, Gbongan, Osun

25. GTC, Ijebu-Jesa, Osun

26. GTC, Ile-Ife, Osun

27. GTC, Inisa, Osun

28. GTC, Iwo, Osun

29. GTC, Osu, Osun

30. GTC, Otan Ayegbaju, Osun

31. Osun State College of Education, Ila-Orangun

32. Government Technical College, Ile-Ife

33. Osun State College of Technology

34. Taraba State University, Jalingo

35. Umar Suleiman College of Education, Gashua, Yobe State

36. Zamfara State University, Talata Mafara

NELFUND has urged other state-owned tertiary institutions that have not yet submitted their student data to the SVS portal to do so promptly. This step is crucial for their students to also benefit from the student loan scheme. The call to action signifies NELFUND’s commitment to expanding the reach of the loan program to all eligible students across Nigeria.

The student loan scheme was initially enacted by President Bola Tinubu in June 2023, aimed at providing interest-free loans to students. The initiative faced delays, with its initial rollout planned for October 2023, but actual implementation was deferred until a re-enactment in April 2024.

Last month, NELFUND approved the disbursement of loans to successful applicants in its first rollout. This milestone marked a significant step in the Nigerian government’s efforts to make higher education more accessible to students from various economic backgrounds.

The student loan scheme represents a significant policy move to address the financial barriers that many Nigerian students face in pursuing higher education. By providing interest-free loans, the government hopes to reduce the financial burden on students and their families, thereby encouraging more enrollments in tertiary education.

NELFUND’s announcement also highlights the importance of administrative efficiency and data management in implementing such large-scale financial programs. The use of the SVS portal ensures that the process is transparent and that the funds reach the intended beneficiaries.

As the scheme gains momentum, it is expected that more institutions will comply with the data submission requirements, broadening the scope of the initiative. This will potentially lead to a more educated workforce, which is essential for the country’s socio-economic development.

The unveiling of the 36 state-owned institutions eligible for student loans is a positive step towards enhancing educational opportunities in Nigeria. NELFUND’s ongoing efforts to encourage other institutions to join the scheme underscores the inclusive nature of this initiative. As the program progresses, it will be crucial to monitor its impact on student enrollment and success, ensuring that the objectives of making education accessible and affordable are fully realized.