- The funds would be paid directly to the tertiary institutions of the benefitting students.
- The students would also be entitled to stipends which would be paid directly to them.
The Federal Government through the Nigerian Education Loan Fund (NELFUND) has said it would open the portal for students to apply for the loan on May 24.
In a statement by Nasir Ayitogo, NELFUND Media and Public Relations Lead, Akintunde Sawyer, NELFUND Managing Director, disclosed this on Thursday in Abuja.
Sawyer said through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
The scheme will kick- off with 1.2m beneficiaries.
The funds would be paid directly to the tertiary institutions of the benefitting students.
The students would also be entitled to stipends which would be paid directly to them.
The statement said: “The management of Nigerian Education Loan Fund (NELFUND) led by its Managing Director, Mr Akintunde Sawyerr are thrilled to announce 24th of May, 2024 as the official date for the opening of a portal for student loan applications.
“This marks a significant milestone in the commitment of President Bola Ahmed Tinubu (GCFR) to fostering accessible and inclusive education for all Nigerian students.
“Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
“The portal provides a user-friendly interface for students to submit their loan applications conveniently.
“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.
“Students can access the portal on www.nelf.gov.ng to begin application.”