President Bola Tinubu has approved ₦35 billion for the commencement of the student loan scheme, aimed at easing the financial burden on Nigerian students.
To date, the Nigerian Education Loan Fund (NELFUND) has approved 70,000 applications, with another 50,000 currently under evaluation. These pending applications are expected to be approved within the next 30 days.
According to Akintunde Sawyerr, the Managing Director and Chief Executive Officer of NELFUND, the disbursement of funds will align with the academic timetables and calendars of each institution. This ensures that students receive the financial support they need in a timely manner, corresponding to their respective academic schedules.
The approval and implementation of this scheme underscore the government’s commitment to supporting education and alleviating the financial challenges faced by students across the country.
...Never miss an update again! Join our WhatsApp group for the latest news, straight to your phone! (Click Here)
