CurrentReport Blog In a groundbreaking development for Nigerian students, the Nigerian Education Loan Fund (NELFUND) has reported a staggering response to its newly launched student loan application portal. Since its inception last week, the portal has received over nine and a half million hits and over 60,000 applications from students attending Federal Government institutions.
During a Post-Application Launch press conference held on Thursday in Abuja, NELFUND’s Managing Director and Chief Executive Officer, Akintinde Sawyerr, shared these impressive figures. Sawyerr highlighted the critical demand for financial assistance among students, noting that 30,000 of the applications were free of errors and successfully processed.
“We’ve had an overwhelming response to the student loan portal,” Sawyerr stated. “This extraordinary surge in applications, with over 60,000 since the launch, underscores the urgent need for financial aid among our student population. We remain committed to addressing this demand.”
Sawyerr also announced that students in state-owned institutions would soon have the opportunity to apply for these loans. He urged state institutions to begin submitting their students’ data for processing, promising that NELFUND would open applications for state-owned tertiary institutions in three weeks.
“In line with our commitment to democratize higher education, we are excited to announce that NELFUND will commence accepting applications from students attending state-owned tertiary institutions in three weeks’ time,” Sawyerr said. “We request all state institutions to submit their students’ data immediately to facilitate a smooth application process.”
Sawyerr praised federal universities for their prompt data submission, noting that 90% of them have already provided the necessary information. However, he urged the remaining institutions, including two federal universities and five federal polytechnics, to expedite their submissions to ensure all eligible students can access the loans.
“We are pleased to report that over 90% of federal institutions of higher learning have submitted their students’ data to NELFUND,” he said. “However, we urge the remaining two federal universities and five federal polytechnics to expedite the process.”
Looking beyond immediate financial assistance, NELFUND is set to launch a skills acquisition program within the next six months. This initiative aims to equip students with practical, market-relevant skills, fostering entrepreneurship and innovation among the youth.
“SIX months from today, we will launch a comprehensive skills acquisition programme providing training in various vocational and technical fields,” Sawyerr announced. “This program is designed to prepare students to meet the demands of the modern job market.”
