NELFUND Sees Surge in Student Loan Applications

NELFUND reports that 60,000 people applied for school loans in just six days

Akintunde Sawyerr, the Managing Director of the Nigerian Education Loan Fund (NELFUND), declared that since the site for students at federal universities opened on Friday, May 24, the Fund has received over 60,000 applications for student loans.

Sawyerr made this announcement on Thursday, May 30, in Abuja. He mentioned that 30,000 students have successfully finished the loan application process out of 60,000 applications.

He said that the Fund had received over 9.5 million hits on its website to date.

He also said that the unusually high number of applications was evidence of the students' urgent need for financial aid.

“We are pleased to report that over 90 per cent Federal institutions of Higher Learning have submitted their students' data to NELFUND. However, we urge the remaining two federal universities and five federal polytechnics to expedite the process to ensure that all eligible students can access the funds' financial support.”

The managing director also revealed that starting June 25, 2024, students at state-owned postsecondary institutions would be able to apply to the fund.

He asked state-owned universities to provide their students' information as soon as possible so that the application process can run smoothly.

Sawyerr further disclosed that NELFUND acknowledges the critical significance of providing kids with employable, marketable skills in addition to financial support.

According to him, the curriculum encourages young people to be innovative and entrepreneurial while preparing students for the needs of the contemporary labor market.

Sawyerr also praised President Bola Ahmed Tinubu for his unwavering vision and support, but he also acknowledged the commitment of all parties involved, including the media and the NELFUND team, for their ceaseless efforts to positively impact Nigerian students' lives.