The Nigeria Education Loan Fund (NELFUND) has achieved a notable milestone, recording its highest number of student loan applications within 24 hours of opening its portal.
On August 7, 2024, NELFUND received 9,687 student registrations, with 7,975 completed loan applications.
This surge highlights the critical role of NELFUND in providing financial support for higher education and underscores the pressing need for such assistance among Nigerian students.
The statement from NELFUND, released in Abuja, praised the high volume of applications as evidence of the fund’s importance in aiding students facing financial challenges.
It emphasized that the achievement aligns with President Bola Ahmed Tinubu’s vision and actions for supporting education. The fund’s user-friendly application process and dedicated support team are designed to assist eligible students effectively.
NELFUND’s Managing Director, Akintunde Sawyerr, recently announced data supporting student loan disbursements, enhancing transparency and accountability.
This initiative is a key component of President Tinubu’s flagship education project. Following his inauguration, Tinubu signed the Access to Higher Education Act, establishing a legal framework for providing loans to low-income Nigerians to cover their tertiary education fees.
NELFUND, created under this law, is responsible for managing loan requests, grants, disbursements, and recovery, and will be funded through various streams while engaging in productive activities.
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