Apply for the Nigerian Education Student Loan Fund Today
The announcement was made in a statement by the media lead for the NELFund, Nasir Ayantogo. According to Ayantogo, the opening of the application portal marks a significant milestone in President Bola Tinubu’s commitment to “fostering accessible and inclusive education for all Nigerian students.”
Access to Higher Education Act 2023
On June 12, 2023, President Tinubu signed the Access to Higher Education Act, 2023 into law, enabling indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution. This move fulfilled one of his campaign promises to liberalize funding for education, as stated by a member of the then Presidential Strategy Team, Dele Alake.
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Nigerian Education Loan Fund
The Access to Higher Education Act also established the Nigerian Education Loan Fund to process all loan requests, grants, disbursement, and recovery. Initially, the government announced that the scheme would be launched in September, but it suffered several delays leading to an indefinite postponement in early March.
Expansion to Include Vocational Skills
After receiving a briefing from the NELFund team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Tinubu directed the Fund to extend interest-free loans to Nigerian students interested in skill-development programs. This decision was based on the need for the scheme to accommodate those who may not want to pursue a university education, as skill acquisition is as essential as obtaining undergraduate and graduate academic qualifications.
“This is not an exclusive program. 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 programs because not everybody wants to go through a full university education,” President Tinubu said.
Application Process
Through the portal, students can now access loans to pursue their academic and vocational aspirations without financial constraints. The portal, according to the statement, 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 on www.nelf.gov.ng to begin the application,” the statement said.