The Managing Director, Akintunde Sawyerr has revealed that the Nigerian Education Loan Fund (NELFUND) has recorded over 6000 applications for loan from students in tertiary institution in just seven days the portal was opened.
The Managing Director gave the revelation while briefing the press at at post application launch on Thursday. He added that the portal has had over 9.5 million visits
Mr. Sawyerr noted that over 90 per cent of federal tertiary institutions have submitted the data of their students with about five institutions remaining.
He also revealed that in three weeks, the fund will democratize the loans following the outcry from students in state-owned tertiary institutions, thereby opening its portal for students in state institutions to apply for the loan.
Sawyerr urged the authorities of the state tertiary institutions, to begin to submit the data of its students to ensure that the process is seamless.
It will be recalled that President Bola Ahmed Tinubu has on June 12, 2023, signed the Access to Higher Education Act, 2023 into law to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.
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