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.
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.
