According to the Nigerian government, the first phase of the Student Loan program will assist 1.2 million federal higher education students.
Akintunde Sawyerr, the Nigeria Education Loan Fund’s managing director and chief executive officer, made this announcement on Monday in advance of the portal’s inauguration on Friday, May 24, 2024.
He said that tuition would be sent straight to the educational institutions of the students.
The Joint Admissions and Matriculation Board’s acceptance letter, a national identity number, a bank verification number, and filled-out application forms can all be found on Sawyerr’s website.
To make sure that all qualified students in federal postsecondary institutions have simple access, the loan application procedure has been shortened.
“The institution will receive the money for its fees, not the students.
“The government owns federal tertiary institutions, which enroll about 1.2 million students. Currently, the maximum number of students at the federal level (1.2 million) will benefit, by inference, but there may be a chance to expand the capacity by adding more schools. The numbers may rise if we include state-owned institutions.
Remember that the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024 was signed into law by President Bola Ahmed Tinubu on April 3.