FG to Opens Student Loan Portal on May 24th

FG to Opens Student Loan Portal on May 24th

In a move to revolutionize access to education in Nigeria, the Federal Government, via the Nigerian Education Loan Fund (NELF), has announced the official launch date of the student loan application portal for May 24, 2024.

This significant announcement was made through a statement signed by Nasir Ayantogo, the media lead of the Fund, on Thursday night.

The statement emphasized the commitment of President Bola Tinubu to providing accessible and inclusive education for all Nigerian students, in line with his campaign promises.

This commitment materialized on June 12, 2023, when Tinubu signed the Access to Higher Education Act, 2023, into law, enabling indigent students to access interest-free loans for their educational pursuits across Nigerian tertiary institutions.

The Act, also known as the Students Loan Law, established the Nigerian Education Loan Fund to facilitate loan processing, grants, disbursement, and recovery.Initially slated for a September launch, the scheme faced delays, ultimately leading to an indefinite postponement in early March.

Attributed to Tinubu’s directive to expand the scheme to include vocational skill loans, the delay was addressed after a briefing by the NELFUND team, led by Minister of State for Education, Dr. Yusuf Sununu, on January 22.

As a result, the portal now offers interest-free loans for students interested in skill development programs alongside academic pursuits.

The portal, accessible via www.nelf.gov.ng, boasts a user-friendly interface, enabling students to submit loan applications conveniently.

According to the statement, Ayantogo urged all eligible students to seize this opportunity to invest in their future and contribute to the nation’s growth and development.

“With the opening of the student loan portal, the Nigerian government takes a monumental step towards fostering a brighter future for its citizens, aligning with Tinubu’s vision of an education system that empowers every Nigerian student, regardless of financial constraints”, he added.