N280m NELFUND Loans Disbursed to 3,000 Nasarawa Students

Loan Lifeline for Nasarawa Students

“From across the country, we have about 275,000 students who have applied for the loans and are being considered...”

Nasarawa State students receive N280 million in NELFUND loans, supporting education and empowering future leaders.

The Nigerian Education Loan Fund (NELFUND) has disbursed N280 million in interest-free loans to 3,000 students from tertiary institutions in the state. This significant support was announced by NELFUND's Managing Director and CEO, Akintunde Sawyerr, during a symbolic cheque presentation ceremony in Lafia, the state capital.

The NELFUND initiative is part of the Renewed Hope Agenda of President Bola Tinubu's administration, aiming to revolutionize education accessibility across Nigeria. With this loan program, eligible students can pursue their educational goals without immediate financial constraints. The program features a user-friendly application portal, comprehensive support, and flexible repayment plans that commence two years after completing the National Youth Service Corps (NYSC), provided the individual has secured employment.

Akintunde Sawyerr, Managing Director and CEO of the Nigerian Education Loan Fund (NELFUND), recently announced that 3,000 students from tertiary institutions in Nasarawa State have benefited from the organization's interest-free loan program, totaling N280 million. This initiative, done in collaboration with the State's Human Capital Development Agency, aims to alleviate the financial struggles indigent students face in accessing quality higher education.

Out of 12,000 applicants from Nasarawa State, 3,000 were verified after submitting the necessary documents, demonstrating the program's commitment to supporting eligible students. Sawyerr encouraged other students to seize this opportunity, emphasizing the importance of timely applications to ensure processing.

Major Features of the Student Loan Programme:

Interest-Free Loan: No interest rates applied to the loan

User-Friendly Portal: Easy online application process

Comprehensive Support: Online assistance for applicants

Flexible Repayment: Repayment plans begin two years after NYSC completion, contingent upon employment.

This initiative demonstrates the government's commitment to empowering education and supporting students in achieving their academic goals.

“Today marks a significant milestone in our partnership with Nasarawa State. I am pleased to announce that several institutions in this state have completed the process of verifying their students' applications, and as a result, we will be presenting cheques to these institutions,” he said.

“From across the country, we have about 275,000 students who have applied for the loans and are being considered. For Nasarawa State, we have had 12,000 applicants and 3,000 of them have been verified, so we have paid out something like N280 million.

“The disbursement of these funds to verified institutions will ensure that students have access to the financial support they need. I commend the institutions that have fulfilled their responsibilities, and I urge those that are yet to do so to expedite the submission of their students' data.”

This program is part of President Bola Tinubu's administration's Renewed Hope Agenda, revolutionizing education accessibility across Nigeria.