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30,000 Students Successfully Register for Loan Scheme – NELFund



A total of 30,000 students have successfully enrolled in the student loan scheme.

Additionally, over 60,000 individuals have registered on the fund’s website.

This announcement was made by Akintunde Sawyerr, the Managing Director of the Nigerian Education Loan Fund, during a press briefing in Abuja on Thursday.

On June 12, 2023, President Tinubu signed the Access to Higher Education Act, 2023 into law. This Act enables indigent students to access interest-free loans for their studies at any Nigerian tertiary institution.

According to Dele Alake, a member of the former Presidential Strategy Team, this action was taken to fulfill one of Tinubu’s campaign promises to liberalize education funding.

The Act, commonly referred to as the Students Loan Law, also established the Nigerian Education Loan Fund to manage loan requests, grants, disbursement, and recovery.

Although the scheme was initially set to launch in September, it faced several delays, leading to an indefinite postponement in early March.

The Presidency attributed the delay to Tinubu’s directive to expand the scheme to include loans for vocational skills.

Following a briefing from the NELFund team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, the President directed the Fund to extend interest-free loans to Nigerian students interested in skill-development programs.

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