110,000 Nigerian Students to Get Credit Alert This Week – NELFUND
The Nigerian Education Loan Fund (NELFUND) has announced that 110,000 successful applicants under its student loan scheme will begin receiving credit alerts next week, following the official launch by President Bola Tinubu.
In an interview with Channels Television on Wednesday, NELFUND Managing Director Akintunde Sawyerr revealed that disbursements will commence shortly after President Tinubu handed symbolic cheques to beneficiaries at the presidential villa.
Sawyerr highlighted that NELFUND currently holds N35 billion in financial backing from the Nigerian government to support the initiative.
“The first group of beneficiaries to receive alerts next week will be those preparing to start a new academic session,” Sawyerr stated during an appearance on Channels Television’s Politics Today. “We launched the disbursement phase formally at the State House on Wednesday.”
He further explained, “Over 110,000 students have successfully applied and been verified as eligible for the loans. While further verification is ongoing to ensure all recipients meet the criteria, disbursements are expected to commence imminently.”
NELFUND initiated the scheme earlier this year with 1.2 million students from federal tertiary institutions and has now expanded to include state-owned institutions in its second phase, following the signing of the reviewed Student Loan Act by President Tinubu in April.
