The Nigerian Education Loan Fund (NELFund) has confirmed that there are sufficient funds available to support all students who have applied for loans. The organization, which is responsible for managing student loans in Nigeria, has sent lists of approved applications to universities nationwide. NELFund encourages students in public higher education institutions to complete their verification processes and move forward with their loan applications.
Nasir Ayitogo, the spokesperson for NELFund, addressed concerns from students who were worried about missing deadlines for their school fees. He explained that although there is no fixed schedule for disbursing the funds, NELFund has received fewer than 500,000 applications but has the capacity to support over 1.2 million students. Ayitogo reassured students that if they have successfully completed their application, they are almost guaranteed to receive the loan. He emphasized, “The application process itself screens applicants. If you’ve applied successfully, you’re 99.9 percent certain to get the loan. We have enough funds to cover everyone. Money is not an issue.”
In July 2024, President Bola Ahmed Tinubu introduced a digital system for NELFund disbursements. This initiative aims to make higher education more accessible and encourage more students to pursue advanced studies, contributing to national development.
Akintunde Sawyerr, the managing director of NELFund, admitted there have been delays in payments. He assured students that they are working on improving the process to resolve these issues.
For more information on NELFund and the student loan application process, visit the official NELFund website.
