NELFUND Announces 36 State-Owned Institutions Eligible for Student Loans

NELFUND Announces 36 State-Owned Institutions Eligible for Student Loans

The Nigerian Education Loan Fund (NELFUND) has recently unveiled a list of 36 state-owned tertiary institutions that are now eligible for student loans. This significant announcement was made on July 7, 2024, marking a major milestone in the country’s educational financing landscape.

Nigerian Education Loan Fund: A New Era for Students

The Nigerian Education Loan Fund (NELFUND) is set to revolutionize educational funding in Nigeria. The organization has revealed that students from 36 state-owned tertiary institutions can now apply for student loans through the Student Verification System (SVS) portal. This move comes as a relief to many students who have been struggling to finance their education.

President Bola Tinubu initially enacted the student loan policy in June 2023, aiming to provide interest-free loans to students. Although the scheme was slated to begin in October 2023, its implementation faced several delays. The policy was finally re-enacted in April 2024, leading to the current rollout. Last month, NELFUND approved the disbursement of loans to successful applicants, ensuring that financial barriers do not hinder educational aspirations.

List of Eligible Institutions

NELFUND has meticulously compiled a list of state-owned institutions that have submitted their complete student data to the SVS portal. Here are some of the key institutions included:

1. Adamawa State University, Mubi
2. Ramat Polytechnic, Maiduguri
3. Borno State University
4. Mohammed Lawan College of Agriculture, Borno
5. Edo State University, Uzairue
6. Ekiti State University, Ado-Ekiti
7. Gombe State University
8. Kingsley Ozumba Mbadiwe University, Imo
9. Imo State University of Agriculture and Environmental Sciences Umuagwo
10. Nuhu Bamalli Polytechnic, Zaria
11. Yusuf Maitama Sule University, Kano
12. Umaru Musa Yar’adua University, Katsina
13. Katsina State Institute of Technology and Management
14. Kebbi State University of Science and Technology, Aliero
15. Confluence University of Science and Technology, Kogi state
16. Lagos State University
17. Nasarawa State University, Keffi
18. Tai Solarin University of Education, Ogun state
19. University of Medical Sciences, Ondo
20. Osun State University

This comprehensive list ensures that a wide range of students across the country can benefit from the loan scheme, promoting educational equity and access.

Call to Action for Non-Compliant Institutions

NELFUND has also issued a call to action for other state-owned tertiary institutions that have not yet submitted their complete student data to the SVS portal. The organization emphasizes the importance of these institutions complying to enable their students to benefit from the loan scheme. By doing so, they can ensure that their students do not miss out on this crucial financial support.

The introduction of this loan scheme is expected to have a profound impact on the Nigerian education system. It provides an opportunity for students to pursue their studies without the constant worry of financial constraints. NELFUND’s commitment to supporting students through this initiative is a step in the right direction towards achieving educational excellence in Nigeria