University of Ibadan Disburses NELFUND Loans to 3,283 Students

NELFUND Loans Approved for 3,283 UI Students

All Heads of Departments have been instructed to allow these students to sit for the 2023/2024 first- semester examinations...

University of Ibadan students protest tuition fee hike, opposing management's approved increase endorsed by governing council.

Over 3,000 students at the University of Ibadan have just received approval for their loan applications from the Nigerian Education Loan Fund (NELFUND) - 3,283 students, to be exact. This exciting development was confirmed by the institution's management on Wednesday.

While the loans have been approved, the funds are yet to be disbursed. However, an internal memo issued by the school authorities, signed by Registrar G.O. Salisu, has instructed department heads to allow students with approved loans to sit for their exams. This is a huge relief for students who were worried about financial constraints affecting their academic progress.

For those interested in applying for NELFUND loans, here are some key points to note:

Eligibility: All Nigerian students admitted to public tertiary institutions, including universities, polytechnics, colleges of education, and vocational schools.

Application Process: Online application through the NELFUND portal, with required documents such as admission letters and student ID cards.

Loan Terms: Zero-interest loans, with repayment starting two years after completing the National Youth Service Programme (NYSC). 

Disbursement: Funds will be disbursed within 30 days of approval.

“Further to our circular number REG/13/1.26 of 13 September 2024, I write to inform the University of Ibadan community that the Nigerian Education Loan Fund has provided a list of 3,283 students whose loan applications have been approved," the memo said.

“Although the funds have not yet been received by the university, the list of the affected students has been sent to the departments. All Heads of Departments have been instructed to allow these students to sit for the 2023/2024 first- semester examinations.

“This is for information and strict compliance by staff and students.”

The University of Ibadan students took to the streets last Friday, launching a protest against the recent tuition fee hike endorsed by the institution's governing council.