UPDATED: NELFUND receives 30,000 applications for student loan

UPDATED: NELFUND receives 30,000 applications for student loan

The Managing Director/Chief Executive Officer, Nigeria Education Loan Fund (NELFUND), Akintunde Sawyerr, has said 60, 000 students from Federal tertiary institutions have registered for the student loan scheme since the launch of the portal last week Friday.

Sawyerr, however, said that 30,000 students have successfully applied for the loan.

He said the agency will start receiving applications from students of state-owned tertiary institutions in three weeks.

The NELFUND boss urged heads of the state – owned institutions to start uploading details of their students on its portal.

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Sawyerr disclose this at an ongoing press conference in Abuja on Thursday.

The agency is working with 126 tertiary institutions for the loan scheme.

Sawyerr said over 9.5 million people have visited the portal since it was launched last week.

The student loan scheme will take off with 1.2m students as beneficiaries.

The loan, which is an equivalent of the tuition fees of the benefitting students, will be paid directly to their institutions.

But stipends would be paid directly to beneficiaries on a monthly basis to assist them buy other things that can make them comfortable while pursuing their education.