As the new academic session kicks off, students across Nigeria are set to receive much-anticipated financial relief.
The Managing Director of the Nigeria Education Loan Fund (NELFUND) , Mr. Sintun Soya, announced during a recent interview that disbursements for student loans will begin next week, marking a significant milestone in the federal government’s efforts to support higher education.
During the interview on ChannelsTv, Mr. Soya revealed that over 110,000 students have successfully applied for the NELFUND. “These students have been verified as bona fide and eligible applicants, and will soon start receiving their disbursements,” he stated.
This move comes after rigorous verification processes to ensure that only qualified students benefit from the initiative.
The NELFUND launch event, which took place at the Presidential Villa, saw the presence of several key stakeholders, including President Bola Tinubu. “We went to see the President to get his seal of approval on our work. This event was about formally launching the disbursement cycle, ensuring that the promises made during the President’s campaign are fulfilled,” Mr. Soya explained.
Two primary categories of beneficiaries are set to receive the funds: the educational institutions and the students themselves. Institutions will be paid directly on behalf of students who have secured admission, while the students will receive monthly stipends for their upkeep.
“The first group to receive alerts will be those starting a new session, or who have just started in the past few weeks. They can expect their funds from next week,” Mr. Soya confirmed.
The portal for loan applications remains open, attracting about 1,000 to 2,000 new registrations daily. The managing director emphasized the importance of the application process, detailing the necessary steps and eligibility criteria. “Applicants must be Nigerian citizens with a valid JAMB number or matriculation number, and must be admitted to a government-owned tertiary institution,” he outlined.
The transparency and robustness of the system are designed to ensure that every qualified student receives the promised support. As the program gains momentum, it is expected to significantly enhance the socio-economic landscape of Nigeria by enabling more students to access higher education.
In closing, Mr. Soya encouraged all eligible students to take advantage of this opportunity. “The portal is open, and we are ready to support as many students as possible. This initiative will not only change lives but also contribute to better leadership and socio-economic development in Nigeria,” he affirmed.
With the new session beginning and the promise of financial support imminent, Nigerian students have much to look forward to as they embark on their academic journeys.