Education

See why NELFUND Announced Delays for all State University Student Loan Applications

Published by Tope Fakinlede on June 26th, 2024.

See why NELFUND Announced Delays for all State University Student Loan Applications

By Deborah Tolu-Kolawole

Students loan

On Tuesday, the Nigerian Education Loan Fund (NELFUND) announced a 14-day delay in the student loan application process for state institutions.

In a statement from the agency in Abuja, the postponement was attributed to “low data submissions” from state-owned institutions.

NELFUND explained that many state universities, colleges, and polytechnics had not provided the necessary student data and fee information to its Student Verification System.

“So far, only a small number of state-owned institutions have completed the data submission process: 20 out of 48 state universities, 12 out of 54 state colleges, and 2 out of 49 state polytechnics. While we appreciate the efforts of these institutions, the lack of data from the remaining ones creates significant challenges for ensuring a smooth and accurate verification process for student loan applicants.

“The application period, originally scheduled to begin on June 25, 2024, will now start on July 10, 2024,” the statement noted.

NELFUND stated that the extension would give state institutions more time to meet data submission requirements, ensuring their students could benefit from the Federal Government’s student loan program.

For an efficient and error-free application process, the Fund emphasized that state institutions must provide complete and accurate information. Required data includes Joint Admissions Matriculation Board numbers, matriculation numbers, admission numbers, full names, levels, faculties and departments, program duration, fees, and gender of all eligible students.

The Fund warned that incomplete or incorrect data could lead to application delays and possible disqualification for affected students.

NELFUND urged all state institutions to speed up their data submission processes and ensure the accuracy of the information provided.