The Nigerian Education Loan Fund said the application portal for the 2024/2025 academic session will officially close on Tuesday.

The Managing Director of NELFUND, Akintunde Sawyerr disclosed this at a news conference in Abuja on Monday.

Sawyerr said this was to allow the Fund to conclude processing of pending applications and upkeep payments.

He also announced timelines for the 2025/2026 academic cycle, in line with its mandate to expand access to higher education through interest-free student loans.

According to him, the loan portal will reopen in the second week of October for fresh applications and remain open until January 2026.

”NELFUND remains committed to removing financial barriers for students and working with institutions to ensure that no eligible student is left behind.

“These timelines provide clarity for students, parents, and institutions to plan and participate fully in the process,” Sawyerr said.

The managing director directed institutions to update their students’ records on the Student Verification System to enable applicants access the scheme.

He added that all unverified applications for 2024/2025 would be automatically cancelled after Oct. 8, noting that students affected would be required to reapply under the new session.

He warned that institutions that failed to verify students’ records risk being publicly listed for non-compliance.

On upkeep stipends, Sawyerr explained that the payment for the 2024/2025 session would continue until November, adding that students were expected to reapply for 2025/2026 to continue receiving payments.

On repayment terms, he reiterated that the scheme remained interest-free while repayment would begin two years after completion of the National Youth Service Corps, with employers mandated to deduct 10 per cent of beneficiaries’ salaries.

He further expressed concern over arbitrary hikes in tuition and ancillary fees by some institutions, noting that a committee set up by the Minister of Education is working with regulators to harmonise and standardise fee structures across institutions.

Responding to concerns about upkeep stipends, he said the current ₦20,000 monthly allowance would not be increased immediately.

Sawyerr said an ongoing review of cost-of-living indices across different regions could however lead to weighted adjustments in future.

The Punch

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…Our People Are Marginalised – Ohanaeze

By Agency Report

The Nigerian Education Loan Fund (NELFund) has disbursed a total of N99.5 billion to students and institutions in just 16 months since the loan scheme was launched on 24 May 2024.

According to official data obtained by LEADERSHIP Weekend from a Student Loan Disbursement Status Report dated 24 September 2025, a total of 510,378 students have so far benefited from the loan scheme.

The breakdown shows that N53.8 billion was paid directly to institutions as tuition fees, while N45.7 billion went to students as upkeep allowance.

In total, 228 tertiary institutions across Nigeria are currently accessing the scheme.

The data stated: “A total of 228 institutions have benefited, with 829,423 applications received. So far, 510,378 students have accessed the loan scheme.

“As of 10 September, N53,801,717,293.00 has been paid as institutional fees, while N45,751,360,000.00 has been released as upkeep allowance. This brings the total loan disbursed to N99,553,077,293.00,” it stated.

Figures sighted by LEADERSHIP dated May 2025 revealed wide gaps between the North and other regions across the country.

The North West recorded the highest number of applicants, with 157,831 students, followed by the North East (127,058) and the South West (92,850).

In contrast, only 27,098 students from the South-East and 37,180 from the South-South applied, while the North-Central had 74,120 applicants.

When contacted for an update on the current status of regional disparities, Mrs Oseyemi Oluwatuyi, Director of Strategic Communications at NELFund, declined to comment, saying: “Sorry, we cannot supply such information. It is sensitive.”

The figures have generated mixed reactions among education stakeholders and regional leaders.

Speaking to one of our correspondents, Mr Isaac Oche, a statistician based in Abuja, said the low participation from the South-East states, as earlier reported by NELFUND, may be due to the reluctance of students who fear being overburdened by debt repayment.

“The numbers show that students from the South are not fully taking advantage of this lifeline, although I know NELFUND has done a lot of sensitisation in that region. I believe the current status may have improved by now,” he said.

“It could also be due to mistrust of government schemes or poor awareness at the grassroots. We need aggressive sensitisation in the region, and I commend the Fund for the efforts they are already making. But more still needs to be done to erase doubts and build trust.”

On their part, students hailed the programme as one of the most impactful policies of the present administration, but they lamented that the government restricted the monthly upkeep allowance to holidays only.

Cletus Tse, a final-year student at Joseph Sarwuan Tarka University, Makurdi, explained how the scheme has improved his academic journey.

“Without this loan, I would have dropped out in my second year. The financial relief has helped me focus on my studies without worrying too much about tuition and fees.”

Tse, however, expressed concern about the disbursement process.

“The government should work on making the upkeep allowance disbursement faster because many of us face delays. Sometimes the allowance comes when the semester is almost ending, and that defeats the purpose,” he said.

Tse also called for stronger job creation policies to ensure graduates are able to repay.

“It is good that the loan is helping us stay in school, but repayment will only be realistic if there are jobs waiting for us after graduation.

“Government must match this initiative with employment opportunities so that it does not become another burden,” he added.

South East Leaders Decry Low Student Loan Uptake In Region

Leaders of the apex Igbo socio-cultural organisation, the Ohanaeze N’digbo, and prominent stakeholders in the South East have expressed concern over the low usage of the federal government’s initiative on student loans and its under-utilisation in the zone.

Against the backdrop of the concern expressed by the management of Nnamdi Azikiwe University (UNIZIK), Awka, Anambra State, about students’ low interest in applying for the federal government students loan scheme tagged Nigeria Education Loan Fund (NELFUND), immediate past national vice-president of the Ohanaeze Ndigbo, Chief Damian Okeke-Ogene, has described the development as worrisome.

He told LEADERSHIP Weekend that students of the zone that had been crying out over marginalisation should not see such opportunity and ignore it.

“NELFUND is a national cake introduced by the federal government to reduce hardship, make it easy for students in the pursuit of acquiring university education. So, if our students are not applying for the loan, we shall be the greatest losers.

“We are still part and parcel of Nigeria. So, we should try and benefit from whatever is meant for the entire nation. And the NELFUND is for students in all the national universities, so our students should go and apply to benefit from the loan.

“We in the South East have been crying of marginalisation, and we can’t afford to lose out of the federal government students’ loan scheme,” the ex-Ohanaeze leader advised.

He urged the National Orientation Agency (NOA) to take up the responsibility of sensitising students about the loan scheme, saying that the reason for the low application might be that the students are not properly aware of the loan and how to obtain it.

Okeke-Ogene also urged the management of various universities in the zone to formally communicate with the Ohanaeze leadership concerning such low application for the loan by the students so that the organisation would confirm that such a situation exists to enable it design appropriate action plans to sensitise the students to embrace the loan scheme.

LEADERSHIP Weekend recalled that about a week ago, the UNIZIK management expressed concern that just about four per cent of the over 66,000 students had applied for the loan despite the fact that the management had uploaded information on its website to sensitise the students about it.

Our People Are Marginalised – Ohanaeze

The national president of Ohanaeze Youth Council Worldwide, Mazi Okwu Nnabuike, has lamented the inability of students from the South East to access the Nigerian Education Loan Fund, attributing it to the marginalisation of the region.

While interacting with LEADERSHIP Weekend, he submitted that the criteria set up for accessing the loan appear very rigorous as some students from the South East do not have the capability to comply with the requirements.

Mazi Okwu urged the federal government to relax some of the rules so as to enable students from the South East to obtain the loan.

He said, “From my observation, the rules set for the loan in the South East zone appear cumbersome. While students from other zones receive the same seamlessly, my people encounter difficulties and it is not right.”

On his part, Barr. China Odu called on the federal government to re-engineer and reinvigorate the system to enable students interested in the scheme to access it without much difficulty.

“We keep getting complaints in respect of the disbursement and this does not augur well for the interest and sustainable development of the nation.”

S’East Students Should Take This Opportunity – Mike Ahamba (SAN)

The Imo-born Senior Advocate of Nigeria, Chief Mike Ahamba, expressed shock that South East students were not applying for the federal government student loan.

He blamed the leaders of the region for failing to sensitise the students.

Ahamba said, “I didn’t know that South East students have not been applying for the loan. I’m sure they have their reasons. But why they won’t apply is my worry now. It’s really unfortunate.

“I advise them to apply for the loan. Perhaps it’s the same reason the South East youths give for not applying to enlist in the military – which is that they don’t get promoted and that they are always sent to insurgency areas where they are killed.

“My position remains that the mistake we are making in Nigeria today is one mistake that (ensures) Nigeria will not have patriots.

“In Nigeria today, you can’t get anything without reference to where you come from because things are done by quota, unlike in places like the USA where you get amenities based on your location. Unfortunately, nobody knows the quota for the South East students.

“We need to find out why our youths are not applying and address it because other zones are benefiting from it,” Ahamba said.

Lack of Jobs Discouraging Candidates – Prof Obiaraeri

On his part, former senatorial aspirant and law professor, Prof Nnamdi Obiaraeri, blamed the low patronage on inadequate publicity by higher institutions and lack of jobs upon graduation.

The former Dean, Faculty of Law at Imo State University said: “The reasons for the poor subscription to the scheme across the Federation include inadequate publicity on NELFUND. Only a few tertiary institutions have taken the time to enlighten their students on the existence of the Fund and its benefits in giving higher educational access to all, especially the indigent.

“Potential beneficiaries still see the scheme as a political bait lacking the assurances and guarantees of durability. Fear of abandonment and policy somersaults by government on its previous policies is real.

“Lack of faith or trust in the NELFUND scheme is buoyed by stringent repayment conditions attached to the loan. Although the Board may waive repayment, every beneficiary who is subsequently employed is liable to repay the loan – meaning that the only condition for a student loan beneficiary not to repay the loan is to remain unemployed after graduation.

“Fear of ‘unemployment after graduation syndrome’ is also contributory. Countless Nigerians who graduated 10–15 years ago with even masters and doctoral degrees are unemployed and still hopelessly roaming the streets in search of elusive job opportunities.

‘‘This makes it unattractive to go to school in the first place, not to talk about borrowing money to acquire education and remaining unemployed thereafter. The thought of this scenario is killing, to say the least.”

Obiaraeri said assurance of jobs upon graduation will bolster students to apply for the loan.

“The scheme is well intended but it will be better appreciated, more subscribed and well received when beneficiaries are assured of gaining employment on graduation. This is where the challenge lies,” he said.

Low Loan Access Due to Decades of Exclusion – Prof Eze

Also, an Ohanaeze chieftain in Enugu State, Professor Fred Eze, has attributed the low enrolment of people from the South East in the Nigerian Education Loan Fund to years of exclusion.

Eze, a former president of Ohanaeze in Enugu State, stated that the South East had been pushed so hard that they had decided to survive by themselves.

He noted that the people of the South East do not depend much on government largesse to survive, hence the low enrolment.

We Aren’t Aware of Any Loan – Abia Parents

Surprisingly, some members of the body and prominent Abia State leaders at various levels are not aware of the Fund.

They blamed it partly on the authorities for not sensitising the public enough about it and on the students who should know more about it than their parents or guardians.

A prominent member of the apex Igbo socio-cultural body, Livinus Nzedike, also argued that the low response may be due to ignorance or lack of confidence in it.

“The gap between the South East, and the North-West and the South West as you said calls for concern and needs to be looked at critically to ascertain the reason,” he added.

A serving permanent secretary in one of the ministries and the traditional prime minister of his community, who pleaded anonymity, expressed dissatisfaction with the region’s response to the facility.

He dismissed any of the suggested probable causes of the response, arguing that it may be as a result of the fear of the mode and duration of the repayment period.

An All Progressives Congress (APC) women leader, Nkechi Kanu, who lauded President Bola Tinubu for introducing the fund, said the students are doing themselves great harm by refusing to key into it.

“How can a people, who over the years have been crying marginalisation, deny themselves such a golden opportunity,” the former secondary school principal asked.

She appealed to government authorities and the political, community, religious and traditional leaders to jointly take up the task of sensitising the people about the fund in every nook and cranny of the region.

What Ndigbo Really Want – Ohanaeze Youth Leader

Meanwhile, the president of Ohanaeze Ndigbo Youth Council, Comrade Igboayaka Igboayaka, has said that Ndigbo need seaports and international airports.

“Ndigbo are not interested in Greek gifts. There are basic needs of life and for economic development that are located in the North and West, but none in the South East, like an international cargo airport, seaports. Ndigbo can afford education to any level. We need seaports in South East, not student loans.

“Ndigbo are interested in commerce and industrial activities, and international airport and seaport are sacrosanct to industrial and business development,” he said.

Leadership Credited

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The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of a total of  ₦86.3 billion loan to 449,039 students since the scheme was launched on its portal on May 24, 2024.

This is according to the latest daily status report released on Monday, August 11, 2025, the scheme disbursed the loan as of August 6, 2025. Data from the dashboard shows a daily increase of 933 in the number of successful registrants and an additional 1,094 successful applicants.

The Fund noted that “the scheme delivers on President Bola Tinubu’s Renewed Hope Agenda of empowering every Nigerian student through access to higher education funding.”

It said the disbursement included ₦47,629,338,384 paid directly to 218 institutions as tuition fees and ₦38,718,120,000 given to students as upkeep allowances.

The report further revealed that 731,140 students have registered on the loan portal, out of which 720,732 have successfully applied for loans — representing a 98% application success rate.

Data from the dashboard shows a daily increase of 933 in the number of successful registrants and an additional 1,094 successful applicants.

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The Nigerian Education Loan Fund said it received over 745,000 applications for its interest-free student loan scheme, with 2,700 of the requests submitted in the last 24 hours.

Managing Director/Chief Executive Officer of NELFUND, Akintunde Sawyerr, disclosed this at the two-day Renewed Hope Student Leaders’ Engagement, organised by the Office of the Senior Special Assistant to the President on Students’ Engagement in partnership with the Rivers State Government, held at the University of Port Harcourt on Friday.

He said, “So far, we have over 745,000 Nigerians who have applied for this loan. Out of this number, we have over 400,000 students who are benefiting from this loan.

“They have their school fees paid at the tertiary level, and some of them who have applied for upkeep are receiving N20,000 per month, per session.

“So far, we have disbursed over N80 billion to Nigerian institutions and Nigerians who are benefiting from the loan.

“We are receiving applications. In the last 24 hours, we had 2,700 applications. We are processing them.”

Sawyerr further said the law establishing NELFUND was recently repealed and re-enacted to allow funding from non-governmental sources.

 “In other words, people who want to contribute to the fund from outside government, whether they are philanthropists, general donors, NGOs, people with special interest in education, they can bring their money into that fund for it to be dedicated to the provision of loans or even grants, if they want, to the students,” he explained.

The NELFUND boss noted that the scheme offers two categories of loans — institutional loans to cover tuition and upkeep loans to support living expenses, saying both are interest-free, with repayment starting two years after completion of the National Youth Service Corps programme.

“If the payment is not complete and you lose your job the payment stops,” Sawyerr said, adding that employers have a statutory duty to deduct 10% from beneficiaries’ salaries once repayment begins.

“The only exception is that if you have your own business and you are paying yourself a salary, you are obliged to put the business or company that you set up to make those payments back to NELFUND,” he added.

In his remarks, the Senior Special Assistant to the President on Students’ Engagement, Asefon Dayo, said the event was a platform to bridge the gap between the government and students.

“Our mission is clear: to engage student leaders meaningfully, inform them about the far-reaching reforms of President Bola Ahmed Tinubu in education and youth development, and hear from them directly,” Dayo said.

He further said NELFUND has significantly reduced the rate of dropouts in tertiary institutions and announced that the President had approved funding for 15 colleges of education, polytechnics, and universities to establish innovation hubs and entrepreneurship centres, including robotics, artificial intelligence, 3D printing, and electronics labs.

Punch

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The two-day strategic engagement, spearheaded by Hon. Arinze Chilo-Offiah, Special Adviser to the Governor on MSMEs and Digital Economy and Director-General of the Enugu SME Center with support from Dr. Chinyere Onyishi, the Special Adviser on Education Innovation (representing the Honorable Commissioner for Education) and NELFUND, a key initiatives of President Bola Ahmend Tinubu’s Renewed Hope Program brought together key education stakeholders, government officials, traditional leaders, and community representatives to align on policy, infrastructure, and implementation.

Day 1 was anchored around the full rollout of NELFUND’s zero-interest loan program for tertiary students, which covers tuition fees and offers an optional ₦20,000 monthly upkeep allowance for up to 12 months. The digital application process requires JAMB verification, NIN, and institutional confirmation. Funds are disbursed directly to institutions.

Mr. Akintunde Sawyerr, Managing Director/CEO of NELFUND, led a high-level session with Vice Chancellors, Rectors, Provosts, Registrars, and Deans of Student Affairs across Enugu State, emphasizing the urgent need for institutional participation to ensure students can access the funding without delay.

Simultaneously, Executive Director of Operations Mr. Mustapha Iyal held technical sessions with ICT Directors and MIS officers, aligning on backend data structures, feedback mechanisms, and automation to streamline disbursement.

Despite Enugu’s strong education credentials, the state currently ranks 33rd of 36 in NELFUND application uptake. The Day 1 engagement served to reposition Enugu for immediate progress and deeper participation.

Traditional rulers, local government chairpersons, and education leaders engaged in an interactive Q&A session—raising concerns on application delays, age limitations, feedback gaps, and part-time student eligibility. NELFUND assured participants of improvements including dashboard alerts, USSD rollout, and institutional dashboards.

Day 2 spotlighted Enugu’s readiness to implement the newly introduced ₦1 Billion Skills Acquisition Loan Program, a federal intervention designed to fund non-academic learning pathways in high-demand sectors such as fashion, tech, renewable energy, animation, digital services, and skilled trades- which aligns with the Enugu State Human Capital Development Loan Programme

The team toured the newly revamped GTC, a technical education hub now fully equipped for trades like welding, mechanical work, electrical installation, and construction. The tour was led by Dr. Amaka Ngene, Chairman of the Science, Technical and Vocational Schools Management Board, Enugu, who showcased the modernized workshops and emphasized the role of GTC in training artisans aligned with the federal skills agenda

At the Enugu State College of Education (Technical), the delegation visited the D-SEZ—a smart, tech-enabled training facility focused on digital literacy, software engineering, design, and online entrepreneurship. The D-SEZ is part of Enugu’s broader strategy to train 50,000 youths annually in digital economy-aligned skills.

These tours highlighted Enugu’s unique infrastructure advantage and validated its capacity to serve as the national testbed for the Skills Loan rollout

Goodwill messages from the Vice Chancellor of ESUT, the Rector of IMT, the Chairman of the Council of Traditional Rulers, and other key stakeholders reinforced cross-sector support for long-term success

With the rollout of zero-interest student loans and the launch of the ₦1 Billion Skills Acquisition Loan Program, Enugu is rewriting the playbook for education financing and workforce development in Nigeria. From academic tuition access to technical empowerment, the state is providing its youth with the tools to thrive in a modern economy.

This initiative is not just about loans—it is about inclusion, opportunity, and transformation. Under the leadership of Governor Peter Mbah, Enugu is showing what it means to build a future where no learner is left behind.

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC), on Thursday, revealed that only N28.8 billion was disbursed to students in various tertiary institutions instead of N100 billion released to the schools.

The anti-graft agency specifically said its preliminary investigations have uncovered that not less than N71.2 billion have been diverted by the management of different universities who had taken custody of funds.

The spokesman of the commission, Demola Bakare, told journalists in Abuja that key stakeholders, including the Director-General of the Budget Office and the Accountant-General of the Federation have been invited.

Bakare also disclosed that senior officials from the Central Bank of Nigeria as well as the Chief Executive Officer and Executive Director of NELFUND were invited to provide documentation and explanations relevant to the case.

Daily Trust reports that the Director-General of the National Orientation Agency, Lanre Issa-Onilu, had two weeks raised the alarm that the universities were trying to sabotage the Tinubu-led government on the students’ loan scheme.

Issa-Onilu alleged that no fewer than 51 tertiary institutions were implicated in illegal deductions and exploitation related to the NELFUND scheme, while calling on the anti-graft agencies to unravel the fraud and halt it.

Similarly, reports from the media also alleged that these institutions were said to have made unauthorized deductions ranging from N3,500 to N30,000 from each student’s institutional fees received through the loan fund.

Giving an update on the issue, the ICPC spokesman explained that the commission had since swung into action following the alarm, adding that those found culpable would be brought to book.

Bakare said, “The Commission confirmed that its Chairman’s Special Task Force immediately swung into action upon receiving the report.

“Letters of investigation and invitations were dispatched to key stakeholders, including the Director-General of the Budget Office, the Accountant General of the Federation, and senior officials from the Central Bank of Nigeria.

“Additionally, the Chief Executive Officer and Executive Director of NELFUND were invited to provide documentation and explanations relevant to the case.

“Preliminary findings revealed a significant gap in the financial records of the disbursement process. While the Federal Government reportedly released N100 billion for the scheme, only N28.8 billion was disbursed to students, leaving an unaccounted sum of N71.2 billion.”

While giving the breakdown of the NELFUND’s records, Bakare said the ICPC’s strength of investigation revealed that the total money received by NELFUND as of March 19, 2024, was N203.8 billion.

 “The breakdown showed that N10 Billion was an allocation from the Federation Allocation Account Committee, N50 billion was from the Economic and Financial Crimes Commission, N71.9B was from the Tertiary Education Trust Fund, while another N71.9 billion was also from the same Tertiary Education Trust Fund,” the ICPC official told journalists.

According to him, responses received by the commission were critically analyzed, and interviews were conducted with the concerned individuals.

He noted that the ICPC, however, found that the total amount disbursed to institutions from inception to date is about N44,200,933,649.00, while a total of 299 institutions have benefited from the funds released.

“To date, the total amount disbursed to 299 beneficiary institutions stands at approximately N44.2 billion, with 293,178 students having benefited from the fund.

“The ICPC confirmed that a clear case of discrepancies has been established in the administration of the student loan scheme and announced that its investigation will now extend to beneficiary institutions and individual student recipients.”

He said the commission would from time-to-time provide further updates as the investigation progresses.

“Comprehensive investigations into the alleged discrepancies surrounding the disbursement of students’ loans under the Nigeria Education Loan Fund (NELFUND) has commenced,” he stated.

Daily Trust Credited

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The Nigerian Education Loan Fund (NELFUND) said its total disbursement for student loans covering school fees and upkeep stands at N32.8 billion as of 3 February 2025.

The Fund disclosed this on Monday in a statement signed by its management. NELFUND said the disclosure became necessary due to erroneous claims making rounds that it had disbursed over N104 billion to 600 beneficiaries.

NELFUND said it has received a total of 364,042 student loan applications since inception and has approved 192,906 applications.

The Fund said it has disbursed a total of N20 billion (N20,074,050,000) for institutional fees as of 3 February. It added that it has disbursed N12 billion (N12,818,960,000) as upkeep to 169,114 students.

Apart from school fees payments, beneficiaries have the option to receive a monthly stipend of N20,000, in addition to their loans

NELFUND said the disclosure became necessary due to erroneous claims making rounds that it had disbursed over N104 billion to 600 beneficiaries.

“The management of NELFUND under the leadership of Akintunde Sawyerr wishes to correct the inaccurate reports regarding the total amount disbursed under the Student Loan Scheme,” it said in the statement.

“We appreciate the unwavering support of President Bola Tinubu (GCFR) in making higher education accessible to all deserving Nigerian students. NELFUND remains committed to transparency and efficiency in managing the student loan scheme and will continue to provide accurate updates as disbursements progress.”

Student Loan scheme

Shortly after assuming office, President Tinubu provided assent to the Access to Higher Education Act (2023) to provide interest-free loans to Nigerian students in public tertiary institutions.

The law also provided the legal framework for the establishment of NELFUND which manages applications and disburses student loans.

The Fund, according to the Act, is to be funded from multiple streams and will engage in other productive activities.

It will also be funded through donations, gifts, grants, endowments, and revenue accruing to the fund from any other source, according to the Act.

After three failed attempts, NELFUND kicked off operation in May last year.

Premium Times Credited.

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By Ani Ruth

The Enugu State University of Science and Technology (ESUT) has directed students of the institution to apply for the Nigeria Education Loan Fund (NELFUND) loan

The university gave the directive via a memo on March 13, 2026 after the NELFUND portal for the 2024/2025 academic session was opened. The portal opened on February 22^nd.

The circular signed by the ESUT Registrar, Ambrose Ugwu, notified students and the university community about the opportunity to apply for the NELFUND loan.

The memo outlined the application process, advising interested students to visit the portal at (https://portal.nelf.gov.ng).

Applicants are instructed to create a new account and follow the subsequent steps provided on the portal.

The university advised students to take advantage of the opening to secure financial support for their tuition fees.

As of February 3rd, 2025, the Nigerian Education Loan Fund (NELFUND) has disbursed a total of N32.8 billion, including N20 billion for institutional fees and over N12 billion for upkeep (stipends), benefiting 192,906 students.

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The Nigerian Education Loan Fund (NELFUND) said it has disbursed over N22 billion under the student loan to 215,514 students.

The agency also said it has disbursed N12, 818, 960, 000 upkeep support to 169,114 students.
It said it would close the 2023/2024 student loan application cycle on Feb. 21 and commence the 2024/2025 application cycle on Feb. 22.
Managing Director of NELFUND, Akintunde Sawyerr disclosed this at a news conference in Abuja on Monday.

Sawyerr said NELFUND received 364,042 applications in 229 days, with an average of 1,000 applications per day.
He said: “In just 220 days, we have received an impressive 364,042 applications with an average of 1,000 applications per day. I am proud to announce that N22,736,960,971 has been disbursed to cover institutional fees across 240 institutions, directly benefiting 215,514 students. Furthermore, a total of N12,818,960,000 has been disbursed as upkeep support, reaching 169,114 students, each receiving N20,000 monthly to assist with their living expenses.

“As part of our commitment to efficiency, transparency, and continuous improvement, we are here today to formally announce the closure of the 2023/2024 application cycle on our student loan portal. This marks a critical transition as we prepare to open the 2024/2025 application cycle.

“The 2023/2024 student loan application portal will officially close on February 21, 2025. We want to reassure all applicants who have successfully submitted their applications before this deadline that their applications will be processed in line with our established guidelines. Our team remains committed to ensuring a fair and timely review of all pending applications.
“I am pleased to announce that the 2024/2025 application cycle will officially commence on February 22, 2025. This transition is a necessary step to streamline our operations, align with the academic calendar, and enhance our ability to process applications efficiently.”

The NELFUND boss stated that the transition to the 2024/2025 cycle was a demonstration of the organisation’s commitment to efficiency, transparency, and continuous improvement of the scheme.
The managing director urged potential applicants to start preparing by collecting the required documents, assuring those who submitted their applications on time that their submissions would be reviewed in accordance with NELFUND’s standard procedures.

Sawyerr reassured those who had successfully submitted their applications before the deadline that their applications would be processed, in line with the fund’s established guidelines.
He said: “Our team remains committed to ensuring a fair and timely review of all pending applications.

“This transition is a necessary step to streamline our operations, align with the academic calendar, and enhance our ability to process applications efficiently.
“NELFUND remains dedicated to providing financial support to students, ensuring that no deserving individual is denied education due to financial constraints.”

Sawyerr said the agency was updating its student database to ensure only active students receive support, with a focus on moving into the 2024-2025 academic session.
He blamed delays in processing applications on benefitting institutions that verify students’ information, adding that the delay affects the payment of institutional fees and upkeep.

He noted that upkeep payments are made only after institutional fees are confirmed, with a gap of a week or two between the two payments.

Credit, The Nation

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The Vice-Chancellor, Enugu State University of Science and Technology, ESUT, Prof Aloysius-Michaels Okolie has urged students of the university to make judicious use of the Nigerian Education Loan Fund (NELfund) provided by the Federal Government.

The VC gave the charge on Friday in Enugu during the South East sensitization visit by the NELFund to three tertiary institutions in Enugu – Enugu State University of Science and Technology (ESUT), University of Nigeria, Nsukka (UNN) and the Institute of Management and Technology (IMT).

The sensitization workshop held at the Moot Court Auditorium of UNN, Enugu Campus, had ESUT VC, UNN VC as well as IMT Rector in attendance. Other high profile individuals at the workshop include the Senior Special Assistant to the President on Community Engagement for South East, Barr Chioma Nweze; the Managing Director/Chief Executive of NELfund, Mr Akintunde Sawyerr, among others.

Delivering his speech, ESUT Vice-Chancellor commended the Federal Government for initiating the student loan fund adding that the the management of ESUT has put machineries in place to ensure seamless application by the students.

While charging the students to leverage on the opportunity, he noted that ESUT management
Has employed the services of computer experts to help the students in their applications.

“I want to commend the management of NELfund for this sensitisation in South East tertiary institutions. It is here that misconceptions will be corrected and students guided appropriately on how to apply for the loan.

“At ESUT, we encourage students to apply for the loan because this is their money. We have deployed the services computer experts to guide them in their application. I have no doubt, whatsoever, that this programme by the government will aid education at this level in the country,” he said.

Addressing the students from the three institutions, Barr Chioma Nweze urged them to make best use of the opportunity to actualise their educational dream. She explained that the application for the loan, which is interest free, is session based, that student can apply for each session.

She stressed that repayment of the loan takes effect two years after the beneficiaries have concluded their national youth service.

She explained criteria required for the application. “Students can apply using their JAMB registration number, matriculation number, BVN, NIN, no surety is needed. Outside the school fees, NELfund also gives ₦20,000 to ₦40,000 stipends for students’ upkeep. NELfund operates through any bank of the students’ choice,” she said.

Highlights of the sensitization workshop was disbursement of ₦5000 each to the first 100 students to arrive at the venue of the meeting. Barr Nweze who made the pledge prior to the commencement of programme, gave the students the money adding that the gesture was to encourage them for seeing the need to attend the programme.

ESUT Monitor can authoritatively report that NELfund has disbursed students loans to 59 institutions including five from the South East region.

Institutions from the South-East that have already benefited from the loan include: Federal Polytechnic, Nekede, Imo State; Ebonyi State University; Abia State University; Michael Okpara University of Agriculture, Umudike; and Alex Ekwueme Federal University, Anambra State, sharing ₦467 million among them.

According to a list obtained from the NELFUND, Alex Ekueme Federal University Ndufu, Ebonyi State, got N193,377,100; Michael Okpara University, got N71,016,220; Abia State University, had N12,469,5003; Federal Polytechnic, Nkede, Imo State, got N368,400; and Ebonyi State University students got N78,313,000.

A total of ₦50 billion was budgeted for the NELFund in the 2024 with a total of ₦2.1 billion already disbursed

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