STUDENT LOAN PROCESS POSTPONED

The Nigerian Education Loan Fund (NELFUND) has announced a 14-day postponement of the application process for student loans at state-owned institutions due to insufficient data submissions.

Initially scheduled to begin on June 25, 2024, the application window will now open on July 10, 2024.

The postponement was deemed necessary after several state institutions failed to upload the required student data and fee information to the NELFUND Student Verification System (SVS).

To date, only 20 out of 48 state universities, 12 out of 54 state colleges, and 2 out of 49 state polytechnics have successfully completed the data submission process.

In a statement released on Tuesday, June 25, 2024, and signed by Nasir Ayitogo, Head of Media and Public Relations for NELFUND, the organization noted the importance of complete and accurate data submissions for a seamless and accurate verification process for student loan applicants.

“While we acknowledge the efforts of these institutions, the failure to submit data from the remaining state institutions poses significant challenges to ensuring a seamless and accurate verification process for student loan applicants,” the statement read.

The extension is intended to provide additional time for state institutions to comply with the data submission requirements. NELFUND stressed that the lack of compliance from these institutions could disadvantage their students, who rely on these loans to support their education.

To facilitate an efficient and error-free application process, NELFUND has outlined the specific data required from state institutions. This includes JAMB numbers, matriculation numbers, admission numbers, full names, levels, faculties, departments, program durations, fees, and gender of all eligible students.

Incomplete or incorrect data submissions will result in application delays and potential disqualification for affected students.

The statement urged all state institutions to expedite their data submission processes and ensure the accuracy of the information provided. “Institutions that fail to meet the revised deadline risk disadvantaging their students, who depend on these loans to support their education,” it warned.

This postponement comes under the administration of President Bola Ahmed Tinubu, which is keen on ensuring that the Federal Government’s student loan scheme benefits as many students as possible.