NELFUND: 60,000 Students Register For Loan Scheme, Says Sawyerr (Full Details)

NELFUND: 60,000 Students Register For Loan Scheme, Says Sawyerr (Full Details)

Abuja, Nigeria – Akintunde Sawyerr, Managing Director and Chief Executive Officer of the Nigeria Education Loan Fund (NELFUND), announced that 60,000 students from federal tertiary institutions have registered for the student loan scheme since the portal’s launch last Friday.

Sawyerr revealed that the agency will begin receiving applications from students of state-owned tertiary institutions in three weeks. He encouraged heads of these institutions to start uploading their students’ details onto the NELFUND portal.

Speaking at a press conference in Abuja on Thursday, Sawyerr noted that the agency is collaborating with 126 tertiary institutions for the loan scheme. He also highlighted the overwhelming interest in the program, with over 9.5 million visits to the portal since its launch.

The student loan scheme aims to support 1.2 million students initially. The loan, equivalent to the tuition fees of the beneficiaries, will be paid directly to their institutions. Additionally, stipends will be provided monthly to help students cover other expenses, ensuring they can focus on their education comfortably.