137 Federal Institutions Endorse Student Loan Scheme, NELFUND Discloses

According to NELFUND, 137 FG postsecondary institutions expressed interest in student loans.

NELFUND's student loan scheme expands with partnerships from 137 federal tertiary institutions, providing opportunities for Nigerian students to access higher education.

Nigerian Education Loan Fund, or NELFUND, is now working with at least 137 universities throughout the country.

The Head of Media of NELFUND, Nasir Ayitogo, made it clear that these organizations are federal ones.

NELFUND announced on Thursday, June 13, in a news release that it would make available the full list of schools that have provided student data upon request, for the purpose of uploading it to the NELFUND Student Verification System portal.

“This list, comprising both federal and state-owned institutions, will be made public to promote transparency and facilitate equitable access and participation in the program," stated Ayitogo in a release.

The Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill of 2024 was signed into law by President Bola Tinubu on April 3. The Senate and the House of Representatives separately reviewed the report from the Tertiary Education Trust Fund and the Committee on Tertiary Institutions before giving their assent.

The Act gives the NELFUND the power to provide loans to qualified Nigerian students to cover living expenses, tuition, fees, and other costs associated with attending recognized public postsecondary institutions as well as vocational and skills development centers in Nigeria.

Akintunde Sawyerr, the managing director of NELFUND, previously revealed that the collaboration of the institutions will determine a student's eligibility for student loans. He also mentioned that the Fund had partnerships with more than 90% of federal institutions.