NELFUND Postpones Access To Student Loan For State-owned Institutions

The Nigerian Education Loan Fund (NELFUND) has announced that students of state-owned institutions will not be able to access loans on the platform yet.

The management of the fund, on Tuesday, announced a 14-day postponement of the application process for student loans for state institutions due” to low data submissions.”

According to NELFUND, only 20 state universities out of 48, 12 state colleges out of 54, and 2 state polytechnics out of 49 have successfully completed the data submission process, making it difficult to verify the loan applicants.

Based on this development, the agency disclosed that the application window, initially set to open on June 25, 2024, will now commence on July 10, 2024.

“To date, only a limited number of state-owned institutions have successfully completed the data submission process. These include 20 state universities out of 48, 12 state colleges out of 54, and 2 state polytechnics out of 49.

“While we acknowledge the efforts of these institutions, the failure to submit data from the remaining state institutions poses significant challenges to ensuring a seamless and accurate verification process for student loan applicants.

“The application window, initially set to open on June 25, 2024, will now commence on July 10, 2024,” the statement released in Abuja reads.

The Fund said the extension will provide additional time for state institutions to comply with the data submission requirements and ensure their students can benefit from the Federal Government student loan scheme.

“To facilitate an efficient and error-free application process, it is crucial that all state institutions provide complete and accurate information.

“This includes JAMB numbers, matriculation numbers, admission numbers, full names, level, faculties, departments, duration of program, fees, and gender of all eligible students.

“Incomplete or incorrect data submissions will result in application delays and potential disqualification for affected students,” the statement added.

The fund urged all state institutions to expedite their data submission processes and ensure the accuracy of the information provided.

It further warned that Institutions that fail to meet the revised deadline risk disadvantaging their students, who depend on these loans to support their education.