The Nigerian government has announced that the portal for the long awaited student loan scheme will open on May 24, 2024, under the Nigerian Education Loan Fund (NELFund).
The announcement which was made in a statement on Thursday by the media lead for the NELFund, Nasir Ayantogo, stated that once the portal is opened, eligible student will have the opportunity of applying for educational loans.
Ayantogo said the opening of the application portal marked a significant milestone in the commitment of President Bola Tinubu to fostering accessible and inclusive education for all Nigerian students.
The portal, according Ayantogo, provides a user-friendly interface for students to submit their loan applications conveniently.
“Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.
“Students can access the portal on www.nelf.gov.ng to begin application,” the statement said.
President Bola Tinubu had, 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.
The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund to process all loan requests, grants, disbursement, and recovery.
While signing the Act into law, Tinubu had said:
“This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas.
“This is not only for those who want to be doctors, lawyers, and accountants. It is also for those who aspire to use their skilled and trained hands to build our nation.
“In accordance with this, I have instructed NELFund to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education,” he had said.
Tinubu had said that he based his decision on the need for the scheme to accommodate those who may not want to pursue a university education, noting that skill acquisition is as essential as obtaining undergraduate and graduate academic qualifications.