Student Loan: NELFUND to Release List of Institutions with Complete Data on June 24

The Nigerian Education Loan Fund (NELFUND) announced plans to publish a complete list of institutions that have submitted their student data for upload onto the NELFUND Student Verification System. The list will be released on June 24, 2024.

In a statement by its Head of Media, Nasir Ayitogo, NELFUND highlighted that this list, which includes both federal and state-owned institutions, aims to ensure transparency and encourage participation from undergraduate applicants and tertiary institutions.

NELFUND noted that many federal institutions have already completed the data submission process, with state-owned institutions currently undergoing the upload. For applicants to access the fund, their details must be included in their institution’s data set submitted to NELFUND SVS for automatic verification. Incomplete or inaccurate data submissions by institutions could invalidate the application process and disadvantage students.

President Bola Tinubu signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law on April 3. This Act establishes the Nigerian Education Loan Fund as a corporate body responsible for managing and investing funds to provide loans for higher education, vocational training, and skills acquisition. The Act empowers NELFUND to provide loans for tuition, fees, charges, and upkeep during studies in approved public tertiary institutions and vocational establishments in Nigeria.