The much-anticipated first phase of the student loan scheme has been launched, targeting students from federal institutions nationwide. The activation of the loan website was observed by The PUNCH, occurring shortly after midnight on Friday.
The genesis of this initiative traces back to June 2023 when President Bola Tinubu initially signed off on the student loan policy, aimed at providing interest-free loans to eligible students. Despite being slated for commencement in October 2023, the scheme faced several delays until its re-enactment in April 2024.
NELFUND, the implementing body, recently announced the opening of the loan application and issuance portal, with the commencement date set for May 24. As part of the pre-application awareness campaign, NELFUND clarified that the pilot phase of the scheme would exclusively cater to students enrolled in federal tertiary institutions.
Further details will follow as the scheme unfolds.
