The Federal Government, through the Nigerian Education Loan Fund, on Thursday, announced May 24, 2024, as the official date for the opening of the portal for student loan applications.
The announcement was made in a statement by the media lead for the NELFund, Nasir Ayantogo.
Ayantogo, in the statement, said the opening of the application portal marked a significant milestone in the commitment of President Bola Tinubu to fostering accessible and inclusive education for all Nigerian students.
On June 12, 2023, Tinubu signed the Access to Higher Education Act, 2023 into law to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.
A member of the then Presidential Strategy Team, Dele Alake said the move is in fulfillment of one of the President’s campaign promises to liberalise funding of education.
The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund to process all loan requests, grants, disbursement, and recovery.
Although the government initially announced that the scheme would be launched in September, it suffered several delays leading to an indefinite postponement in early March.
The Presidency had linked the delay to Tinubu’s directive to expand the scheme to include loans for vocational skills.
Tinubu based his decision on the need for the scheme to accommodate those who may not want to pursue a university education, noting that skill acquisition is as essential as obtaining undergraduate and graduate academic qualifications
The portal, according to the statement, provides a user-friendly interface for students to submit their loan applications conveniently as all eligible students are encouraged to take advantage of this opportunity to invest in their future and contribute to the growth and development of the nation.
The statement also noted that Students can access the portal on www.nelf.gov.ng to begin application.
