On Wednesday, July 17, 2024, President Bola Tinubu is scheduled to officially introduce the Student Loan Scheme, which will officially start the program’s execution. According to information obtained, the event will be held in the State House in Abuja.
Recall that the President had authorized ₦35 billion for the program’s launch a few weeks back, with 70,000 applications in the inaugural round.
During its inaugural meeting in Abuja last month, the Governing Board of the Nigerian Education Loan Fund (NELFund), presided over by Mr. Jim Ovia, approved the release of loans to successful applicants.
“By approving the immediate disbursement of the loans, (NELFund) has taken a critical step in fulfilling its mission to support education and empower the next generation of leaders,” the agency said in a statement.
Over 1.2 million students are expected to benefit from the first phase of the program, which is a flagship initiative of the Tinubu administration and intends to give financial help, including school fees and stipends, to qualifying students countrywide.
