Yesterday the 16th of May, 2024, the Management of Nigerian Education Loan Fund (NELFUND) led by its managing director, Mr. Akintunde Sawyerr announced that the official date for the opening of the portal for student loan application is May 24th, 2024 through Nasir Ayitogo , the Media and Public Relations lead of NELFUND.
This announcement was made following the President Bola Tinubu-led administration which recently signed the revised student loan Bill into law, following the earlier 2023 student loan legislation.
According to the President Bola Tinubu-led administration, the revised Student Loan Act 2024 comes with Zero interest and repayment is 2 years post NYSC.
The benefit of using the portal is that as students, you can access loans to pursue their academic aspirations without financial constraints. The portal provides a user-friendly interface for students to submit their loan applications conveniently.
The managing director of NELFUND encouraged all eligible students to 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 nelf.gov.ng to begin applications. The other benefits of the new Students Loan Act known as the Access to Higher Education Act,2024 is that there is a removal of the Family Income Barrier, a removal of the guarantor barrier and the establishment of a new government agency to regulate the loan policies and funds. If in need of more information and assistance, you are advised to contact NELFUND via email at info@nelf.gov.ng
