NELFUND: Nigerian Students begin to receive alerts of Students Loan by Next week

NELFUND: Nigerian Students begin to receive alerts of Students Loan by Next week

The Nigerian Education Loan Fund has stated that 110,000 successful beneficiaries of the student loan scheme will begin to receive credit alerts from next week, consequent upon the formal launching of disbursement by President Bola Tinubu.

This was disclosed by NELFUND Managing Director Akintunde Sawyerr in an interview with Channels Television on Wednesday.

His update came after President Tinubu handed symbolic cheques to beneficiaries at the presidential villa on Wednesday.

He noted that the Fund is currently backed by N35 billion provided by the Nigerian government.

Those who are going to be informed as early as next week are those due to begin a new session in the institution they are, according to Akintunde Sawyerr, Managing Director of NELFUND, who appeared on Wednesday’s Channels Television’s Politics Today.

“A formal launch of the disbursement circle played itself out at the State House Wednesday,” he said.

“In fact, some 110 000 students have already applied. They have applied and confirmed themselves to be genuine and eligible applicants.”.

“But we will still conduct further verification to ensure they are wellqualified to receive these loans. But over 110,000 are likely to begin to receive disbursement from next week.”.

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He said, “Current exposure to students is about N35bn”.

Recall that Tinubu, in April, signed the reviewed Student Loan Act to mark its official flag-off. NELFUND began with 1.2 million students at Federal tertiary institutions, and is now in its second phase with state-owned institutions.