The Federal Government says only students from Federal institutions will benefit in the first phase of the Nigeria Education Loan Fund.
Speaking at a pre- application sensitization press conference in Abuja, the managing director and chief executive of the fund says only students whose institutions have uploaded their data on its dash board would be eligible to apply.
President Tinubu in April 2024 signed the students loans act bill 2024 into law.
This according to the president is to ensure that no Nigerian regardless of their background is excluded from obtaining quality education.
This dream is gradually coming to reality for many students as the fund announced the commencement of application.
At the pre -application sensitization press conference, the managing director and chief executive of the fund reveals that the first phase of the application portal for the Students Loan Program will be officially opened on the 24th of May, 2024, for students in federal institutions.
He gave details of what the loan entails.
On what becomes of the scheme in a case of death, mental and physical illness of the loanee, he said the fund is looking at an insurance model that will address bad loans.
Some of the documents expected from beneficiaries include JAMB admission letter, National Identification Number and Bank Verification Number.
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