According to the Nigerian Education Loan Fund, the complete list of educational institutions that have provided all of the student data required by the organization for upload onto the NELFUND Student Verification System will be made public.
On Thursday, NELFUND announced that the list would be released on June 24, 2024.
The Fund said in a statement released by its Head of Media, Nasir Ayitogo, that this list of both Federal and State-owned institutions will be made public in order to guarantee transparency and to promote fair access and participation in the program for both undergraduate applicants and postsecondary institutions in this crucial exercise.
The fact that so many federal institutions have already finished the first wave of the exercise is admirable, however the process of uploading the data to NELFUND SVS is currently ongoing for the state-owned institutions.
The applicant’s information must be included in the institution’s data set that is sent to the NELFUND SVS in order for them to be eligible for access to the fund. This allows for smooth automatic application verification.
Applicants would be disadvantaged and the application process would be deemed illegitimate if this verification was not completed. Therefore, it is crucial that the data supplied by the postsecondary schools be accurate and comprehensive, according to the Fund.
Remember that the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024 was signed into law by President Bola Tinubu on April 3.
The report of the Committee on Tertiary Institutions and the Tertiary Education Trust Fund was separately considered by the Senate and the House of Representatives prior to the assent.
In the presence of the National Assembly’s leadership, ministers, and significant education stakeholders, the executive bill titled “A bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004 to Establish the Nigerian Education Loan Fund as a body corporate to receive, manage, and invest funds to provide loans to Nigerians for higher education, vocational training and skills acquisition and related matters” was signed.
The Act gives the Nigeria Education Loan Fund the authority to lend money to eligible Nigerian students to cover their tuition, fees, charges, and living expenses while they are enrolled in accredited public postsecondary institutions as well as establishments for skill development and vocational training across the nation.
