The Nigerian Education Loan Fund (NELFUND) has announced that the portal for students to apply for loans will open on Friday, May 24, 2024.
This was disclosed by Akintunde Sawyer, the managing director of NELFUND, in a statement signed by Nasir Ayitogo, his media and public relations lead, on Thursday, May 16, 2024, in Abuja.
Sawyer said through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
According to the statement, the scheme will start with 1.2 million beneficiaries and the funds would be paid directly to the tertiary institutions of the benefitting students.
The students would also be entitled to stipends which would be paid directly to them.
The statement reads:
Earlier TimesNow.com.ng revealed that five categories of people are deemed ineligible to take the loan.
These are:
TimesNow.com.ng earlier reported that Sawyerr explained how the student loan would be accessed by interested citizens.
Sawyerr disclosed that there will be no human contact in accessing the loan as everything will be automated and funds for successful students will be transferred to the schools’ accounts.
Proofreading by James Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
