The Nigerian Education Loan Fund (NELFUND) has expanded its student loan scheme by onboarding an additional 16 state-owned tertiary institutions, bringing the total number of participating institutions to 86. This update was announced on Thursday via the fund’s official social media handle, @NELFUND.
NELFUND’s post stated, “Following our previous announcements onboarding 70 state-owned tertiary institutions to the Nigerian Education Loan Fund Student Loan Applications Portal, we are delighted to share that an additional 16 state-owned institutions have now been added to the portal. This brings our total to 86 state-owned institutions, further expanding the reach and impact of our student loan program.”
The scheme, which aims to benefit no fewer than 1.2 million students, is a key initiative of President Bola Tinubu’s administration. President Tinubu approved N35 billion for the scheme’s take-off after signing the supporting legislation on April 3.
The fund is urging institutions that have not yet submitted their accurate and complete student data to do so promptly to ensure their students can benefit from the program.