NELFUND Expands Student Loan Program to 22 More State Institutions
The Nigerian Education Loan Fund (NELFUND) has announced the approval of 22 additional state-owned tertiary institutions for its student loan program. This expansion brings the total number of eligible institutions to 108, marking a significant step in President Bola Tinubu’s education reform initiative.
The student loan scheme, established under the Access to Higher Education Act, aims to support indigent and low-income students across Nigeria by providing financial assistance for higher education. NELFUND, responsible for managing loan requests, grants, disbursements, and recoveries, was recently set up following the reenactment of the Act earlier this year.
Among the newly added institutions are Abia State University, Delta State University, and several polytechnics and colleges of education across various states. This expansion is expected to broaden access to quality education by offering financial support to students from a wider range of institutions.
The initiative is part of the government’s efforts to alleviate financial barriers to higher education and increase educational opportunities for Nigerian youth. By including more state-owned institutions, NELFUND aims to reach a broader demographic of students who may otherwise struggle to finance their tertiary education.
As the program continues to grow, it is anticipated to play a crucial role in enhancing educational accessibility and supporting human capital development in Nigeria. Students from the newly approved institutions can now apply for loans through NELFUND, potentially opening doors to higher education for many who previously faced financial constraints.
This expansion of the student loan program reflects the government’s commitment to education reform and its recognition of education as a key driver of national development.
