The Nigerian Education Loan Fund (NELFUND) has fixed May 24 for the opening of the student loan portal.
Akintunde Sawyerr, managing director of the fund, announced the development in a statement on Thursday.
Sawyerr said the opening of the portal for student loan applications marks a significant milestone in the current administration’s goal of fostering accessible and inclusive education.
“Through the portal, students can now access loans to pursue their academic aspirations without financial constraints,” the statement reads.
“The portal provides a user-friendly interface for students to submit their loan applications conveniently.
“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 at www.nelf.gov.ng to begin their applications.”
President Bola Tinubu, in June 2023, enacted the student loan policy to grant interest-free loans to needy students.
The scheme was slated to commence between September and October 2023, but implementation was repeatedly postponed.
The policy was heavily criticised for its stringent requirements, which many stakeholders argued would render the scheme inaccessible.
In March 2024, the president wrote to the national assembly requesting the repeal and reenactment of the law.
On April 3, Tinubu re-enacted the policy, effectively repealing the old law and reintroducing a new version.
