NELFUND shifts student loan access for State-owned institutions

According to the Nigerian Education Loan Fund (NELFUND), students of state-owned universities will not be able to receive loans on the platform yet.

Due to poor data entries, the fund’s management on Tuesday announced a 14-day delay of the application procedure for student loans for public universities.

It is challenging to confirm the loan candidates according to NELFUND as only 20 state universities out of 48, 12 state colleges out of 54, and 2 state polytechnics have successfully completed the data submission process.

This event led the agency to reveal that the originally scheduled opening date for the application window—June 25, 2024—will now be July 10, 2024.

“To date, only a limited number of state-owned institutions have successfully completed the data submission process. These include 20 state universities out of 48, 12 state colleges out of 54, and 2 state polytechnics out of 49.

“While we acknowledge the efforts of these institutions, the failure to submit data from the remaining state institutions poses significant challenges to ensuring a seamless and accurate verification process for student loan applicants.

“The application window, initially set to open on June 25, 2024, will now commence on July 10, 2024,” the statement released in Abuja reads.

NELFUND said the extension will provide additional time for state institutions to comply with the data submission requirements and ensure their students can benefit from the Federal Government student loan scheme.

“To facilitate an efficient and error-free application process, it is crucial that all state institutions provide complete and accurate information.

“This includes JAMB numbers, matriculation numbers, admission numbers, full names, level, faculties, departments, duration of program, fees, and gender of all eligible students.

“Incomplete or incorrect data submissions will result in application delays and potential disqualification for affected students,” the statement added.

The fund advised all state agencies to speed up their data submission procedures and guarantee the accuracy of the information they produced.

It also cautioned institutions that neglecting the extended deadline might adversely affect their students, who rely on these loans to help with their studies.