The Nigerian Education Loan Fund has stated that loans applied for under the student loan scheme will be disbursed to applicants per their respective institutions’ academic calendars.
Nasir Ayitogo, NELFUND’s Head of Media and Public Relations, confirmed this in an interview with our correspondent 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 said.
During its inaugural board meeting in Abuja two weeks ago, the NELFUND board approved the disbursement of student loans to qualified applicants, marking a significant milestone in its goals to provide students with financial help.
Under the direction of Chairman Jim Ovia, the board approved the prompt disbursement of student loans to successful candidates.
On April 3, President Bola Tinubu signed the Student Loans (Access to Higher Education) Act (Repeal and Re-enactment) Bill, 2024 into law.
The Senate and House of Representatives separately considered the report of the Committee on Tertiary Institutions and the Tertiary Education Trust Fund before giving their assent.