NELFUND reopens student loan portal for 2024/2025 academic year

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NELFUND reopens student loan portal for 2024/2025 academic year

NELFUND Extends Verification Deadline for Tertiary Institutions

The Nigerian Education Loan Fund (NELFUND) has announced a final extension of 48 hours to allow tertiary institutions that have not yet completed their student verification process for the 2024/2025 academic year to finalize their submissions. This decision was made to ensure that all eligible students are properly captured and verified as part of the ongoing loan application process.

The announcement was made in a statement released by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, during a briefing in Abuja on Friday. According to the statement, the verification portal will be open from 12:00 a.m. on Sunday, October 12, to 12:00 a.m. on Tuesday, October 14. This additional time is aimed at providing institutions with a last chance to complete the necessary steps before the deadline.

Oluwatuyi emphasized the importance of this final opportunity, urging all affected institutions to take full advantage of the extended period. She warned that failure to complete the verification process within the stipulated timeframe would result in these institutions being excluded from the current loan cycle. This exclusion could have serious consequences for the students who rely on the loan scheme for their education.

“Failure to complete the verification process within the stipulated period will result in the affected institutions forfeiting participation in the current loan cycle,” she stated. “A situation that will regrettably disadvantage their students who are the ultimate beneficiaries of the loan scheme.”

To maintain transparency and accountability, Oluwatuyi mentioned that the list of institutions that fail to meet the deadline will be published. This move is intended to encourage compliance and ensure that all stakeholders are aware of the consequences of non-participation.

Commitment to Equitable Access to Higher Education

Oluwatuyi reiterated NELFUND’s commitment to promoting equitable access to higher education through the efficient, transparent, and inclusive management of its loan scheme. The fund continues to play a crucial role in supporting students across Nigeria, particularly those from disadvantaged backgrounds.

The verification process is a critical step in ensuring that only eligible students receive the financial assistance they need to pursue their studies. By allowing a final extension, NELFUND aims to minimize disruptions and provide a fair opportunity for all institutions to complete their obligations.

Key Points to Remember

  • The verification portal will be accessible from 12:00 a.m. on Sunday, October 12, to 12:00 a.m. on Tuesday, October 14.
  • Institutions are strongly advised to complete the verification process within the given timeframe.
  • Failure to do so may result in exclusion from the current loan cycle.
  • Defaulting institutions will be publicly listed to ensure transparency.
  • NELFUND remains committed to supporting equitable access to higher education.

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