Politics
60,000 Students Sign Up For Loans Across 336 State Institutions
60,000 Students Sign Up For Loans Across 336 State Institutions....KINDLY READ THE FULL STORY HERE▶
Dr. Akintunde Sawyerr, Managing Director of the Nigerian Education Loan Fund (NELFUND), announced this in Abuja on Thursday. He explained that students at state institutions could apply for the loan facility when the second phase of the scheme begins on June 25………..CONTINUE READING
Data from regulatory agencies’ websites show that students from 336 state tertiary institutions, including universities, colleges of education, and technical colleges, will benefit from the scheme.
Figures from the National Universities Commission website indicate that there are 63 state universities. Additionally, the National Board for Technical Education lists 54 state polytechnics, 57 state monotechnics, and 111 state technical colleges. The National Commission for Colleges of Education’s website shows 51 state colleges of education.
So far, over 60,000 students from federal institutions have registered on the loan application portal.
NELFUND opened its application portal in the first phase of the registration exercise, which started on May 24, initially accepting applications from federal tertiary institutions. About 1.2 million students from 226 federal universities, polytechnics, colleges of education, and technical colleges were expected to benefit from the first phase. Data from the NUC and other agencies indicate there are 226 federal tertiary institutions, including 62 universities, 41 polytechnics, 96 monotechnics, and 27 colleges of education.
During a press conference on Thursday, Dr. Sawyerr provided an update on the loan scheme, stating that the Fund would start accepting applications from state universities on June 25. He urged all state institutions to submit their students’ data promptly to ensure a smooth application process.
He also announced that a component for skill acquisition loans would be launched in six months.
“Beyond financial assistance, NELFUND recognizes the profound importance of equipping our youth with practical, market-relevant skills,” Sawyerr said. “In six months, we will launch a comprehensive skills acquisition program, providing training in various vocational and technical fields. This program is designed to prepare students to meet the demands of the modern job market, fostering entrepreneurship and innovation among our young people.”
Dr. Sawyerr mentioned that over 60,000 applications had been received since registration for the first phase began last Friday. However, he clarified that registrations did not necessarily translate to completed applications, with only 30,000 students successfully applying for the loan. He emphasized that the evaluation process was now underway and no loans had been approved yet
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Source: Bushradiogist
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