The Nigerian Education Loan Fund (NELFUND), said yesterday it has disbursed over N1.72 billion as loans to 20,000 students in five tertiary institutions. It added that an additional N850 million would be disbursed before the close of work on Wednesday to another institution, bringing the total disbursed amount to tertiary institutions to N2.5 billion. The Fund also revealed that all …

The Nigerian Education Loan Fund (NELFUND), said yesterday 16 additional state-owned tertiary institutions have submitted their students’ data for the student loan scheme. NELFUND, which disclosed this through its official X handle yesterday, explained that the addition of the 16 institutions brought the total number of registered state-owned institutions in the scheme to 86. “Following our previous announcements onboarding 70 …

The Nigerian Education Loan Fund (NELFUND) has confirmed that Nigerian students studying abroad were ineligible for the newly introduced student loan scheme. The NELFUND’s Managing Director, Akintunde Sawyerr, disclosed this information on Friday. The Access to Higher Education Act, 2023, signed into law by President Bola Tinubu on 12 June, aims to provide interest-free loans to indigent students attending Nigerian …

The Academic Staff Union of Universities (ASUU), Calabar Zone has opposed the proposed Student Education Loan of the Federal Government describing it as a ploy to enslave Nigerian Students and make them remain indebted to the country forever. Addressing a press conference in Uyo, Akwa Ibom State capital on Monday, the Zonal Chairperson of ASUU, Dr Happiness Uduk, said it …

Less than 48 hours after the federal government announced the indefinite suspension of the student loan scheme, President Bola Tinubu has sent a bill to the National Assembly seeking repeal of the current Act, and passage of a new bill. In a letter addressed to Speaker, Rt. Hon.Tajudeen Abbas, President Tinubu said the action was necessary to ensure easy implementation …

Ahead of the official launch of the Student Loan Scheme on 21 February 2024, the Nigeria Education Loan Fund said it is finalising repayment modalities. Although it confirmed that the 10 per cent direct deduction from the beneficiaries’ salaries still stands, applicants can pay higher percentages or 100 per cent upfront if they choose. Persons confirmed to be dead, terminally …

In furtherance of his desire to ease the burden of the fuel subsidy removal on students of higher institutions of learning, President Bola Tinubu has approved provision of buses to the students’ bodies of all universities, polytechnics and colleges of education across the country. According to a statement by the President’s spokesman, Mr Dele Alake on Monday, “the desire of …

Following the growing concerns that tertiary institutions might increase tuition fees on the heels of the recently passed Students Loan Act, the House of Representatives has warned against such a move. It also resolved to convene a legislative summit on student loans and access to higher education with all stakeholders in the education sector. This resolution followed the consideration of …

I am one for students’ loan; it does not necessarily have to be exactly the way it has come through the Femi Gbajabiamila-sponsored bill signed into law by President Bola Ahmed Tinubu last month. For one, Tinubu rushed to sign the bill so it would not become stale. Had the 10th National Assembly been proclaimed before the bill was assented …