The Nigerian Education Loan Fund (NELFUND) announced that student loans under its scheme will be disbursed based on the academic calendars of respective institutions.
Nasir Ayitogo, Head of Media and Public Relations at NELFUND, confirmed this in an interview in Abuja on Friday. “Funds will be disbursed according to each institution’s academic calendar. It will be disbursed at the beginning of the new academic session,” Ayitogo stated.
Two weeks ago, the NELFUND board approved the disbursement of student loans to successful applicants during its inaugural board meeting in Abuja. This marks a significant milestone in NELFUND’s mission to support students with financial aid.
Under the leadership of Chairman Jim Ovia, the board authorized the immediate disbursement of loans to qualified applicants.
President Bola Tinubu signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law on April 3. This followed separate considerations by both the Senate and the House of Representatives of the report from the Committee on Tertiary Institutions and the Tertiary Education Trust Fund.
