The Nigerian Education Loan Fund (NELFUND) announced that it will publish a list of institutions that have submitted complete student data for the NELFUND Student Verification System on June 24, 2024. This list will include both federal and state-owned institutions and aims to ensure transparency and encourage participation in the student loan scheme.
In a statement, Nasir Ayitogo, Head of Media at NELFUND, commended the federal institutions that have already completed the data submission process. He noted that the data upload for state-owned institutions is currently underway.
“For applicants to access the fund, their details must be included in their institution’s data set submitted to the NELFUND SVS. Automatic applicant verification will then occur seamlessly,” Ayitogo explained. He emphasized that incomplete or inaccurate data submissions would invalidate the application process, disadvantaging applicants.
This move follows the signing of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law by President Bola Tinubu on April 3. The Act, which repeals the 2023 Act and establishes NELFUND, aims to manage and invest funds to provide loans for tuition, fees, and upkeep for Nigerian students in approved public tertiary institutions and vocational training establishments.
The legislation was enacted in the presence of National Assembly leaders, ministers, and major education stakeholders, marking a significant step in providing financial support to Nigerian students.
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