The Nigerian Education Loan Fund (NELFUND) has announced a 14-day postponement of the application process for student loans for state-owned institutions.
In a statement on Tuesday, Nasir Ayitogo, the media spokesperson of the fund, said the decision was made due to low data submission.
President Bola Tinubu enacted an initial version of the student loan policy in June 2023 to grant interest-free loans to students.
The scheme was to commence in October 2023 but implementation was repeatedly deferred until a re-enactment in April 2024.
NELFUND recently scheduled the opening of the loan application and issuance portal for May 24.
During a pre-application sensitisation in Abuja, NELFUND said the scheme’s pilot phase would only be open to federal tertiary institutions.
The fund also said the scheme will be open to state-owned tertiary institutions in its second rollout.
Ayitogo said several state-owned institutions have failed to upload the required student data and fee information to the NELFUND student verification system (SVS).
He said the application window, initially set to open on June 25, will commence on July 10.
Ayitogo said the extension will provide additional time for the institutions to comply with all the data submission requirements.
“Only a limited number of state-owned institutions have completed the data submission process,” the spokesperson stated.
“These include 20 state universities out of 48, 12 state colleges out of 54, and 2 state polytechnics out of 49.
“The failure to submit data from the remaining institutions poses significant challenges to ensuring a seamless and accurate verification process.
“It is crucial that all state institutions provide complete and accurate information.
“This includes JAMB numbers, matriculation numbers, admission numbers, full names, level, faculties, departments, duration of programme, fees, and gender of all eligible students.
“Incomplete or incorrect data submissions will result in application delays and potential disqualification for affected students. Institutions that fail to meet the revised deadline risk disadvantaging their students, who depend on these loans to support their education.”
