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The Nigerian Education Loan Fund (NELFUND) has approved the sum of N35 billion students’ loan across 124 federal tertiary institutions.

A credible source, who revealed this yesterday, also disclosed that the Fund has so far approved 70,000 applications, while 50,000 others were being evaluated and could be approved within the next 30 days

The approved funds, it was gathered, would be disbursed any moment from now. It was also gathered that the Fund receives an average of 1,500 applications daily.

Recall that NELFUND had revealed that 1.2million students would benefit from the first phase of the scheme, even as students of state tertiary institutions are expected to access the portal from June 25.”

“The ₦35 billion cuts across all the 124 federal institutions that we have rolled out so far. But we are still getting applications from students from federal institutions before we roll out the state institutions.”

“While the state institutions will be rolled out, we will still be accepting applications from federal institutions. Applications will be on 24/7 because the calendar of each school is not the same. The funds would be disbursed soon” the source said.

Source: The Guardian

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