The Nigerian Education Loan Fund (NELFUND) has announced a delay in the student loan application process for state-owned institutions. Originally scheduled to begin on June 25, 2024, the application window will now open on July 10, 2024. This postponement is due to challenges faced by state universities, colleges, and polytechnics in submitting required student data and fee information to the NELFUND Student Verification System.
In a statement from Abuja, NELFUND highlighted that only a fraction of state institutions have completed the data submission process. Out of 48 state universities, 20 have submitted the necessary information. Similarly, 12 out of 54 state colleges and 2 out of 49 state polytechnics have complied. This incomplete data submission poses significant challenges to the verification process essential for student loan applications.
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NELFUND emphasized the critical role of accurate data in ensuring a smooth application process. Required information includes JAMB numbers, matriculation details, admission specifics, full names, academic levels, faculties, departments, program durations, fees, and gender of eligible students. Incomplete or inaccurate submissions may lead to delays or disqualification of student loan applications.
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The Fund urged all remaining state institutions to expedite their data submission processes within the revised timeline. It cautioned that institutions failing to meet the deadline risk disadvantaging their students who depend on these loans. By complying with requirements, institutions can ensure their students’ eligibility for the Federal Government’s student loan scheme.
The postponement affects numerous students across Nigeria seeking financial aid through NELFUND. Delays in the application process not only impact students’ financial planning but also disrupt the operational efficiency of educational institutions relying on timely fund disbursement.
As Nigeria aims to improve access to higher education through financial aid initiatives, the postponement of the student loan application process underscores the importance of data integrity and timely compliance from all stakeholders, particularly state institutions.
Source: Punch Newspapers
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