The Managing Director of the Nigerian Education Loan Fund, Akintunde Sawyerr, announced during an ongoing press briefing in Abuja on Thursday that the website of the student loan fund has received over 60,000 visitors since its launch. 

In his address, Sawyerr highlighted the widespread engagement from federal institutions, revealing that over 90% have submitted their lists of eligible students for the loan scheme. 

However, he noted that there are still two federal universities and two federal polytechnics that have not yet completed this process. The submission of these lists is crucial for the disbursement of loans to students, ensuring they receive the necessary financial support for their studies.

Sawyerr also announced an expansion of the loan scheme’s reach. “The scheme will be made available to students of state universities in the next three weeks,” he stated. This development is set to provide broader access to education funding, addressing the financial challenges faced by students across various state-run institutions.

The Nigerian Education Loan Fund was established following the signing of the Access to Higher Education Act, 2023 by President Bola Tinubu on June 12, 2023. The Act was designed to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution. 

This legislative move was a significant step towards improving higher education accessibility in Nigeria, aiming to reduce the financial burden on students and their families.

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