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Student Loans Limited to Federal Institution Applicants in Initial Phase – FG

Akintunde Sawyerr, Managing Director of the Nigerian Education Loan Fund (NELFUND), announced that up to 1.2 million students from federal tertiary institutions can access student loans in the first phase.

Speaking ahead of the loan portal’s launch on Friday, May 24, Sawyerr stated that only students from federal institutions that have completed data uploads will be eligible to apply initially.

He stated that the application process is designed to be simple for all qualified students in federal institutions.

Sawyerr also mentioned key features of the loan: no physical contact between applicants and NELFUND, an easy-to-use online application portal, comprehensive online support, and flexible repayment plans. The loan will cover 100% of institutional fees, paid directly to the schools, and provide monthly stipends to students during the academic session.

He said;

“We encourage all students in federal institutions to take advantage of this opportunity to secure the required financial assistance for their education. Applicants must submit their applications as early as possible to ensure timely processing.”

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