According to Nigerian Education Loan Fund (NELFUND), it will be releasing the comprehensive list of learning institutions that have submitted information concerning their students.
This is a significant document required for integration into the NELFUND Student Verification System and its publication has been scheduled on 24th June 2024.
On Thursday, Nasir Ayitogo, an official at the Fund’s media department explained that this list would contain some Federal and State universities. This approach is aimed at ensuring transparency in the verification process and encouraging undergraduate students’ accessibility to tertiary institutions.
The Fund has expressed happiness that most federal establishments have already concluded their data submissions, marking phase one of the operation. State-owned schools are currently uploading these details onto NELFUND SVS.
Their personal information must be contained in their respective institution’s datatbase sent to NELFUND SVS for a student to be able access the loan. This consequently facilitates straightforward progression of verification by applicants who require such services with less hassle.
If this examination was not a success, the application process would be considered void and thereby disadvantaging those who made applications. Therefore, the Fund maintains that it is crucial for data provided by tertiary institutions to be not only comprehensive but also accurate.
On April 3rd President Bola Tinubu assented into law the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024. This parliamentary action came after two houses of Legislature separately considered and adopted the Report of their Committees on Tertiary Institutions and The Tertiary Education Trust Fund on the Bill.
The executive bill titled “A Bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004 to Establish the Nigerian Education Loan Fund as a body corporate to receive, manage and invest funds to provide loans to Nigerians for higher education, vocational training and skills acquisition and related matters” was signed in presence of National Assembly leadership, ministers, major stakeholders in education.
The Nigeria Education Loan Fund Act empowers the organization to offer loans to eligible Nigerian students. The loans are meant for payment of fees, tuition, charges and as well as taking care of other living expenses that may be incurred by the students during their stay in any authorized public tertiary institution within the country and also vocational or skills acquisition establishments in Nigeria.
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