The Nigerian Education Loan Fund (NELFUND) has received over 60,000 applications for student loans since the portal for students at federal institutions opened last Friday, according to the Managing Director, Mr Akintunde Sawyerr.
Speaking to the media in Abuja on Thursday, Sawyerr revealed that 30,000 students have completed the application process. The portal has also recorded over 9.5 million hits to date.
Sawyerr described the “extraordinary surge” in applications as a clear indication of the critical need for financial assistance among students.
He reported that over 90 per cent of federal institutions of higher learning have submitted their students’ data to NELFUND, and urged the remaining two federal universities and five federal polytechnics to expedite their submissions to ensure all eligible students can access the funds.
“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,” he said.
Sawyerr also announced that NELFUND will start accepting applications from students at state-owned tertiary institutions on June 25, 2024. He called on these institutions to submit their students’ data promptly to facilitate a smooth application for the Student loan.
He disclosed plans to launch a comprehensive skill acquisition programme in six months to offer training in various vocational and technical fields. This initiative, he said, aims to prepare students for the modern job market, fostering entrepreneurship and innovation among young people.