The Nigerian Education Loan Fund (NELFUND) will open the student loan portal on May 24, as announced by managing director Akintunde Sawyerr in a statement yesterday.
Sawyerr highlighted that this development is a major step in the current administration’s efforts to make education accessible and inclusive.
“The portal will allow students to apply for loans to pursue their academic goals without financial barriers,” Sawyerr said. He added that the portal features a user-friendly interface, making it easy for students to submit their applications.
Sawyerr encouraged eligible students to take advantage of this opportunity to invest in their future and contribute to the nation’s growth. Students can begin their applications at www.nelf.gov.ng.
President Bola Tinubu enacted the student loan policy in June 2023, offering interest-free loans to needy students. Although the scheme was supposed to start between September and October 2023, its implementation was delayed due to criticism over stringent requirements.
In March 2024, President Tinubu requested the national assembly to repeal and reenact the law. The policy was re-enacted on April 3, effectively replacing the old law with a new version.