NELFUND approves student loan

The Nigerian Education Loan Fund has approved the disbursement of student loan to successful applicants.

President Bola Ahmed Tinubu had on April 3, 2024, signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.

The approval is contained in a statement issued by NELFUND  on its X account.

The approval of the loans by NELFUND signifies a step towards empowering the next generation of leaders through education which aligns with the presidency’s dream of improving the quality of education and making it affordable for all.

At its meeting on Wednesday, the board Under the leadership of its Chairman, Mr. Jim Ovia approved the immediate disbursement of student loans to successful applicants.

Also present at the meeting were the management of the fund led by the Managing Director/CEO, Mr. Akintunde Sawyerr and representatives of member organizations.

The registration for the loan disbursement programme took off in May with 1.2 million students in federal tertiary institutions across the country.

Registration of students in the state owned tertiary institutions will start soon according to the Nigerian Education Loan Fund .