Student loans to be disbursed according to academic calendars

The Nigerian Education Loan Fund has said loans applied for under the student loan scheme will be disbursed to applicants based on the academic calendars of respective institutions.

The Head, Media and Public Relations of NELFUND, Nasir Ayitogo, made this known in an interview with our correspondent in Abuja on Friday.

“Funds will be disbursed according to each Institution’s academic calendar. It will be disbursed at the beginning of the new academic session,” Ayitogo said.

Two weeks ago, the board of NELFUND approved the disbursement of student loans to successful applicants during its inaugural board meeting in Abuja, marking a milestone in its mission to support students with financial aid.

Under the leadership of its Chairman, Mr Jim Ovia, the board approved the immediate disbursement of student loans to successful applicants.

President Bola Tinubu, on April 3, signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.

The assent was sequel to the separate considerations by both the Senate and the House of Representatives of the report of the Committee on Tertiary Institutions and the Tertiary Education Trust Fund.

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