The Nigerian Education Loan Fund (NELFUND) has approved a N35 billion student loan into 124 federal tertiary institutions.

A credible source, who revealed this yesterday, also revealed that the Fund has so far approved 70,000 applications, while another 50,000 are under evaluation and could be approved in the next 30 days.

The approved funds, it was learnt, would be disbursed at any time. It was also noted that the Fund receives an average of 1,500 applications per day.

Recall that NELFUND had revealed that 1.2 million students would benefit from the first phase of the program, although students from public higher education institutions are expected to access the portal from June 25.

“The £35 billion covers all 124 federal institutions we have deployed so far. But we always receive applications from students of federal institutions before rolling out to state institutions.

“While state institutions will be deployed, we will still accept applications from federal institutions. Applications will be made 24/7 as each school’s schedule is not the same. The funds will be disbursed soon,” the source said.

Source: The Guardian

About the Author

AdeyemNous Samuel Afolayan (Sirmilo)

AdeyemWe Samuel Afolayan{Sirmilo} enjoys sharing campus news from various sources to keep readers informed and connected at all times. He is a publicist, academic journalist and entrepreneur.

AdeyemWe Samuel Afolayan{Sirmilo} enjoys sharing campus news from various sources to keep readers informed and connected at all times. He is a publicist, academic journalist and entrepreneur.