The Nigerian Education Loan Fund (NELFUND), has revealed that over 60,000 students have registered on the website for the student loan scheme.
Similarly, a total of 30,000 applications have been successfully processed.
Akintunde Sawyerr, the Managing Director of the Nigerian Education Loan Fund, disclosed this in a press briefing in Abuja on Thursday.
NELFUND noted that so far, 90 percent of federal universities have submitted their students’ data to its dashboard, adding that two federal universities and two federal polytechnics were yet to submit theirs.
The student loan agency added that its portal for submission of data from state owned tertiary education begins in three weeks time.
Recall that on June 12, 2023, President Bola Tinubu had signed The Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2023, into law. With the passage of the bill, students in Nigeria will be able to obtain loans with no interest.
The move was in “fulfillment of one of his campaign promises to liberalise funding of education,” a member of the then Presidential Strategy Team, Dele Alake, stated.
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