TheNewsGuru

Tag: Students Loan

  • Fuel hike: NANS demands upward review of students loan

    Fuel hike: NANS demands upward review of students loan

    Amidst the hike in the pump price of fuel, the National Association of Nigerian Students (NANS) has called on the President Bola Tinubu-led government to increase the students loan from N20,000 to N40,000. NANS Senate President, Babatunde Akinteye, made the call during a news conference on the state of the nation in Abuja on Monday.

    Akinteye said that this adjustment was necessary to help students cope with the rising cost of living while ensuring that they continue to pursue their education without undue financial strain. He also urged the Federal Government to reduce excessive government spending. He said that at a time when Nigerians were being asked to make sacrifices, it was only fair that those in power led by example. He called for calm, noting that the reforms by President Bola Tinubu would yield favourable outcomes.

    “We find ourselves at a pivotal juncture in our nation’s history, where the weight of economic reforms has cast a shadow of discomfort, hunger and despair across our land. The reality we face today is daunting, and the uncertainty of these times cannot be understated.

    Yet, amid these challenges, we must stand united and clear-headed. Burning down our country is not an option; it is not a solution. As the foremost student and youth movement in Africa, we share the same struggles, hopes, and aspirations as every Nigerian,” he said.

    According to Akinteye, in moments like this, there is need for thoughtful and measured action rather than embarking on protest. Observing the current hardships, ranging from foreign exchange irregularities to fuel scarcity, skyrocketing food prices among others, he urged the government to tackle the problem headlong.

    “We acknowledge that Nigerians, especially students, are severely impacted by the high fuel prices, as our economy is deeply tied to fuel. The ripple effect is felt most intensely by the lower class, and the cries of distress are understandable.

    “However, it is crucial that we approach these issues with caution and strategy. The mood across the nation is one of anger, frustration, and desperation. Many Nigerians are on edge, waiting for a spark to ignite unrest but we must resist the temptation to react in haste. We are mindful of the importance of preserving life and liberty,” he said.

    He stressed that the safety of every Nigerian student is a top priority of NANS. “We will not risk exposing them to danger by hastily calling for protests,” he said.

  • Student Loan: NELFUND clears 22 more institutions [SEE FULL LIST]

    Student Loan: NELFUND clears 22 more institutions [SEE FULL LIST]

    The Nigerian Education Loan Fund (NELFUND) has cleared additional 22 state-owned tertiary institutions for student loan applications.

    This is disclosed in the official X handle (formerly Twitter) of NELFUND.

    The fund said the additional institutions followed a review by the committee responsible for Student Verification System.

    According to the organisation, students from the 22 state-owned tertiary institutions can now apply for loans on its portal, http://nelf.gov.ng.

    It would be recalled that, 86 state-owned institutions were cleared before the new list, bringing the number to a total of 108 institutions.

    NELFund had also  said that over N1 billion had been disbursed so far, as tuition fees to 20000 students from the institutions across the country.

    The lists of the newly and previously cleared institutions are as follows:

    Newly Cleared Institutions

    1. Abia State University, Uturu
    2. College of Education, Nsugbe
    3. Chukwuemeka Odumegwu Ojukwu University
    4. Delta State University, Abraka.
    5. Delta State Polytechnic, Otefe-Oghara, Delta State
    6. Ekiti State Polytechnic, Isan-Ekiti
    7. Kogi State University, Kabba, Kogi State
    8. Prince Abubakar Audu University
    9. Kwara State University
    10. Kwara State College of Health Technology
    11. Abdulkadir Kure University, Minna
    12. Ogun State College of Health Technology, Ilese-Ijebu
    13. Moshod Abiola Polytechnic
    14. Emmanuel Alayande University of Education, Oyo
    15. The Polytechnic, Ibadan
    16. The Oke Ogun Polytechnic, Saki
    17. Rivers State University, Port Harcourt
    18. Kenule Beeson Saro-Wiwa Polytechnic
    19. Shehu Sule College of Nursing and Midwifery, Damaturu
    20. College of Administration, Management and Technology, Potiskum, Yobe State
    21. College of Agriculture, Science & Technology, Gujba
    22. College of Education Legal Studies, Nguru

    Previously cleared institutions are:

    1. Abia State Polytechnic
    2. Adamawa State University Mubi
    3. Adamawa State Polytechnic Yola
    4. College of Education Afaha Nsit
    5. Akwa Ibom State University
    6. Akwa Ibom State Polytechnic
    7. Aminu Saleh College of Education, Azare
    8. Niger Delta University
    9. Benue State University, Makurdi
    10. Borno State University
    11. College of Education, Waka-Biu
    12. Mohammet Lawan College of Agriculture
    13. Ramat Polytechnic, Maiduguri
    14. Cross River State University
    15. Delta State Polytechnic, Ogwashi-uku
    16. Delta State University of Science and Technology
    17. Dennis Osadebay University, Asaba
    18. University of Delta Agbor
    19. Ebonyi State University, AbakalikI
    20. Edo State University Uzairue.
    21. Ekiti State University, Ado Ekiti
    22. Bamidele Olumilua University of Edu., Sc., and Tech
    23. University of Medical and Applied Sciences Enugu State
    24. Gombe State University
    25. Imo State University of Agriculture and Environmental Sciences Umuagwo
    26. Kingsley Ozumba Mbadiwe University
    27. Benjamin Uwajumogu State College of Education IhitteUboma
    28. Imo State Polytechnic Omuma
    29. Sule Lamido University Kafin Hausa, Jigawa State
    30. Nuhu Bamalli Polytechnic, Zaria
    31. Kaduna State College of Education Gidan Waya
    32. Kaduna State University
    33. Aliko Dangote University of science and Technology wudil
    34. Yusuf Maitama Sule University
    35. Katsina State Institute of Technology and Management
    36. Umar Musa Yaradua University Katsina
    37. Kebbi State University of Science and Technology, Aliero
    38. Confluence University of Science and Technology
    39. Prince Abubakar Audu University Anyigba
    40. Kwara Polytechnic
    41. Kwara State College of Education Oro
    42. Lagos state university of education
    43. Lagos State University of Science and Technology
    44. Lagos State University
    45. Isa Mustapha Agwai Polytechnic, Lafia
    46. Nasarawa State University Keffi
    47. Ibrahim Badamasi Babangida University, Lapai
    48. Niger State Polytechnic Zungeru
    49. Abraham Adesanya Polytechnic
    50. Olabisi Onabanjo University
    51. Tai Solarin University of Education
    52. Ogun State Institute of Technology, Igbesa
    53. D.S Adegbenro ICT Polytechnic Itori-Ewekoro.
    54. Gateway ICT Polytechnic Saapade
    55. University of Medical Sciences, Ondo
    56. Adekunle Ajasin University Akungba-Akoko, Ondo State
    57. Government Technical College Ile-Ife
    58. GTC, ARA Osun State
    59. GTC, GBONGAN Osun State
    60. GTC, IJEBU-JESA
    61. GTC, ILE-IFE Osun State
    62. GTC, INISA Osun State
    63. GTC, IWO Osun State
    64. GTC, OTAN AYEGBAJU Osun State
    65. GTC, OSU Osun State
    66. Osun State College of Education, Ila-Orangun
    67. Osun State College of Technology
    68. Osun state university
    69. University of Ilesa, Osun State
    70. Osun State Polytechnic, Iree
    71. Oyo State College of Agriculture and Technology, Igboora
    72. OYO STATE COLLEGE OF Health Science and Technology, Eleyele, Ibadan.
    73. Adeseun Ogundoyin Polytechnic Eruwa Oyo State
    74. Ladoke Akintola University of Technology Oyo State
    75. Oyo State College of Nursing Sciences, Eleyele
    76. First Technical University Ibadan
    77. Plateau State University Bokkos
    78. Port Harcourt Polytechnic
    79. Ignatius Ajuru University of Education Port Harcourt
    80. Taraba state polytechnic
    81. Taraba State University, Jalingo
    82. Taraba State College of Nursing Sciences Jalingo
    83. Umar Suleiman College of Education, Gashua, Yobe State
    84. Yobe State University
    85. Mai Idris Alooma Polytechnic Geidam, Yobe State.
    86. Zamfara State University, Talata Mafara.
  • NELFUND disburses July upkeep to 20,371 students

    NELFUND disburses July upkeep to 20,371 students

    Management of the Nigerian Education Loan Fund (NELFUND) has announced the successful disbursement of monthly stipends for the month of July to 20,371 students from six tertiary institutions.

    This is contained in a statement made available to newsmen in Abuja on Monday by the Fund’s
    Director Finance and Accounts, Mr Ibom Uche.

    Uche said the initiative underscored President Bola Tinubu’s unwavering commitment to support Nigerian students by ensuring financial stability throughout their academic pursuit.

    A monthly payment of N20,000 was given as upkeep stipends to each of the beneficiary students.

    He said students from institutions whose institutional fees had already been paid by NELFUND, have began to receive their July upkeep stipends.

    He listed the institutions as :Bayero University Kano, Federal University, Dutsin-Ma, University of Ilorin and University of Benin.

    Other he said are University of Ibadan and University of Maiduguri.

    ”NELFUND is diligently working to commence the payment process for students from approximately 55 additional tertiary institutions.

    ”It is anticipated that this will be concluded within the next two weeks as the fund is committed to ensuring that all eligible students receive their stipends promptly.

    ”NELFUND remains steadfast in its mission to support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions,” he said .

    He added that the fund would also ensure the timely disbursement of stipends for day to day expenses.

    “It is noteworthy that the President on Sunday committed a further N50 billion from recovered proceeds of crime.

    ”NELFUND appreciates the patience and cooperation of students and institutions as the organisation works assiduously to fulfill its previous commitments to Nigerian students,” he said.

  • See 36 State universities to first benefit from FG student’s loan [FULL LIST]

    See 36 State universities to first benefit from FG student’s loan [FULL LIST]

    The Nigerian Education Loan Fund (NELFUND) has opened its application portal for 36 state-owned tertiary institutions across the country to apply for the federal government loan for students in the country.

    TheNewsGuru.com (TNG) recalls NELFUND opened the application portal for the first phase of the student loan scheme for students from federal institutions across the country in May, 2024.

    However, NELFUND announced on Sunday that students enrolled in 36 state-owned tertiary institutions in the country can now apply for student loans effective today, 7th July 2024.

    According to NELFUND, “the management of these institutions have successfully submitted their student data to the NELFUND Student Verification System (SVS)”.

    The fund urged all other state-owned tertiary institutions to submit their complete student data to the NELFUND Student Verification System timely to enable their students benefit from the scheme.

    NELFUND gives the list of the 36 state-owned universities currently eligible for the student’s loan as follows:

    1. Adamawa State University, Mubi
    2. Ramat Polytechnic, Maiduguri
    3. Borno State University
    4. Mohammet Lawan college of Agriculture, Borno State
    5. Edo State University, Uzairue
    6. Ekiti State University, Ado-Ekiti
    7. Gombe State University
    8. Kingsley Ozumba Mbadiwe University, Imo State
    9. Imo State University of Agriculture and Environmental Sciences Umuagwo
    10. Nuhu Bamalli Polytechnic, Zaria
    11. Yusuf Maitama Sule University, Kano
    12. Umaru Musa Yar’adua University, Katsina
    13. Katsina State Institute of Technology and Management
    14. Kebbi State University of Science and Technology, Aliero
    15. Confluence University of Science and Technology, Kogi state
    16. Lagos state university of education
    17. Lagos State University
    18. Nasarawa State University, Keffi
    19. Tai Solarin University of Education, Ogun state
    20. University of Medical Sciences, Ondo
    21. Osun State University
    22. UNIVERSITY OF ILESA, OSUN STATE
    23. GTC, ARA Osun State
    24. GTC, GBONGAN Osun State
    25. GTC, IJEBU-JESA Osun State
    26. GTC, ILE-IFE Osun State
    27. GTC, INISA Osun State
    28. GTC, IWO Osun State
    29. GTC,OSU Osun State
    30. GTC, OTAN AYEGBAJU Osun State
    31. OSUN STATE COLLEGE OF EDUCATION, ILA-ORANGUN
    32. GOVERNMENT TECHNICAL COLLEGE ILE-IFE
    33. OSUN STATE COLLEGE OF TECHNOLOGY
    34. Taraba State University, Jalingo
    35. Umar Suleiman College of Education, Gashua, Yobe State
    36. Zamfara State University, Talata Mafara

    Steps to apply for the FG student’s loan

    CREATE AN ACCOUNT

    • Step 1: visit www.nelf.gov.ng
    • Step 2: Click on the “Apply Now”
    • Step 3: Click on “Get Started”
    • Step 4: Answer the questions on this page to continue by clicking on “Yes, I am a Nigerian”
    • Step 5: Verify your educational information. You would be required to select your school from a dropdown and provide your matric number to check if your school has uploaded your details.
    • Step 6: Click the “Verify with JAMB” and enter your JAMB details in the screen. (Students whose NIN has not been registered with JAMB will have an input field where they can enter their NIN for validation.)
    • Step 7: Create an account by entering your Email address, Password and Confirm Password in the fields provided and click “Create Account”.
    • Step 8: Click the email verification link sent to your email. This concludes the process of creating an account.

    HOW TO COMPLETE YOUR PROFILE

    After successful registration, log in by clicking the “LOGIN” button.

    • Step 1: Enter your email address and password to Login.
    • Step 2: Click on the “Proceed to Contact Details” button.
    • Step 3: Update contact details with the current information of your Phone Number, Full Residential Address, State of Residence and Local Government Area of Residence and click “Proceed to Educational Details”.
    • Step 4: Update your educational details by selecting your Higher Institution and inputting your Matric Number, then click “Proceed to Account Details”
    • Step 5: Verify your BVN by entering your BVN, select your Bank Name and enter your Account Number. Click “Save Changes” to complete your profile.

    LOAN APPLICATION 

    • Step 1: Click on the “Request for Student Loan” button at the top right of the screen on the home or loans page after logging into the application.
    • Step 2: If you want an upkeep loan, click the check box, and click Continue, if all you need is the institutional charge, click the “Continue” button.
    • Step 3: Upload supporting documents. The admission letter is compulsory which the Student ID and Institution Invoice are optional.
    • Click the checkbox for the policy and declaration and click “Continue”
    • Step 4: Read the loan overview and click the check boxes for both the Terms & Conditions and GSI Mandate then click “Submit Application”
    • Step 5: Click on the “Loans” button to view the status of your application.

    TNG reports President Bola Tinubu enacted an initial version of the student loan policy in June 2023 to grant interest-free loans to students. The scheme, which was supposed to have taken off in October 2023, was deferred until a re-enactment in April 2024.

  • Over 60,000 Federal University students already applied for loan – NELFUND

    Over 60,000 Federal University students already applied for loan – NELFUND

    Akintunde Sawyerr, the Managing Director of Nigeria Education Loan Fund, NELFUND,  has revealed  that over 60,000 students from federal universities have registered for the student loan scheme since its launch.

    Sawyerr made this known at a press conference in Abuja on Thursday.

    According to him, 90 per cent of federal universities have submitted their students’ data to the NELFUND’s dashboard, adding that 10 per cent were yet to submit theirs.

    He stated that the student loan scheme will take off with 1.2 million students as beneficiaries and the loan would be paid directly to their various institutions.

    Sawyer added that the portal for state owned tertiary institutions will be open in three weeks, and urged them to begin submitting their students’ data for processing.

  • NELFUND: How to successfully apply for student loan

    NELFUND: How to successfully apply for student loan

    The Nigerian Education Loan Fund (NELFUND) in the early hours of Friday opened the application portal for the first phase of the students loan scheme.

    TheNewsGuru.com (TNG) reports the students loan website had the scheme’s pilot phase opened to students of federal tertiary institutions.

    Here is how to successfully apply for student loan on the portal:

    CREATING AN ACCOUNT 

    Step 1: visit http://nelf.gov.ng

    Step 2: Click on the “Apply Now”

    Step 3: Click on “Get Started”

    Step 4: Answer the questions on this page to continue by clicking on “Yes, I am a Nigerian”

    Step 5: Verify your educational information. You would be required to select your school from a dropdown and provide your matric number to check if your school has uploaded your details.

    Step 6: Click the “Verify with JAMB” and enter your JAMB details in the screen.

    (Students whose NIN has not been registered with JAMB will have an input field where they can enter their NIN for validation.)

    Step 7: Create an account by entering your Email address, Password and Confirm Password in the fields provided and click “Create Account”.

    Step 8: Click the email verification link sent to your email.

    This concludes the process of creating an account.

    HOW TO COMPLETE YOUR PROFILE 

    After successful registration, log in by clicking the “LOGIN” button.

    Step 1: Enter your email address and password to Login.

    Step 2: Click on the “Proceed to Contact Details” button.

    Step 3: Update contact details with the current information of your Phone Number, Full Residential Address, State of Residence and Local Government Area of Residence and click “Proceed to Educational Details”

    Step 4: Update your educational details by selecting your Higher Institution and inputting your Matric Number, then click “Proceed to Account Details”

    Step 5: Verify your BVN by entering your BVN, select your Bank Name and enter your Account Number. Click “Save Changes” to complete your profile.

    LOAN APPLICATION 

    Step 1: Click on the “Request for Student Loan” button at the top right of the screen on the home or loans page after logging into the application.

    Step 2: If you want an upkeep loan, click the check box, and click Continue, if all you need is the institutional charge, click the “Continue” button.

    Step 3: Upload supporting documents. The admission letter is compulsory which the Student ID and Institution Invoice are optional.

    Click the checkbox for the policy and declaration and click “Continue”

    Step 4: Read the loan overview and click the check boxes for both the Terms & Conditions and GSI Mandate then click “Submit Application”

    Step 5: Click on the “Loans” button to view the status of your application.

  • Students loan application portal goes live

    Students loan application portal goes live

    The Nigerian Education Loan Fund (NELFUND) has opened the application portal for the first phase of the student loan scheme, for students from federal institutions across the country.

    The loan website which became active in the early hours of Friday had the scheme’s pilot phase opened to students of federal tertiary institutions.

    Recall President Bola Tinubu enacted an initial version of the student loan policy in June 2023 to grant interest-free loans to students.

    The scheme, which was supposed to have taken off in October 2023, was deferred until a re-enactment in April 2024.

    However, NELFUND finally scheduled the opening of the loan application and issuance portal for May 24, which is now in operation.

    Meanwhile, the Media and Public Relations Lead of NELFUND, Mr Nasir Ayitogo has released the step by step application process for the student loan.

  • Student loan scheme: NELFUND reveals those to benefit first

    Student loan scheme: NELFUND reveals those to benefit first

    The Managing Director, Nigerian Education Loan Fund (NELFUND), Mr Akintunde Sawyerr says students in federal tertiary institutions would first be considered in the roll out of the scheme.

    Sawyerr disclosed this in Abuja on Monday, at a news conference on pre-application sensitisation on the loan scheme.

    He said that the Fund would roll out its obligations to federal universities, polytechnics and colleges of education which had completed and uploaded their students’ data on their dashboard.

    Sawyerr stressed that uploading of students’ data on the Fund’s dashboard by their schools was the only means through which the students would be eligible to apply for the loan.

    He said NELFUND had partnered with the institutions for seamless upload of the students’ data and the loan would be paid 100 per cent to the beneficiaries through their institutions.

    Sawyerr called on federal tertiary institutions, yet to upload details of their students to do so.

    “The loan application will be opened on May 24. We are starting with the federal tertiary institutions, but the loan will, eventually, be rolled out to state institutions too,’’ he said.

    Sawyerr added that the beneficiaries would be made to pay the loan, two years after completion of their National Youth Service Corp (NYSC), on condition that the individual had secured employment.

    According to him, the repayment is expected to be made by the beneficiaries regardless, of where they get their job after their NYSC.

    Speaking on what becomes of the scheme in cases of death, mental and physical illness of the beneficiaries, he said the fund is looking at an insurance model that will address bad loans.

    He also noted that the NELFund establishment Act has made case for debt forgiveness.

    “The first thing we are doing is to try to make sure that we have adequate information about the application for the loan, as much as possible.

    “We need to know that those who applied for the loan are bonafide Nigerian citizens and they are of good standing and we have various ways to know that.

    “We are working with security agencies to ensure the people who are applying for this loan are not people who may want to defraud the system.

    “We will also follow up on the beneficiaries each year they apply and ensure we are in constant communication with them.

    “We are looking at an insurance model to ensure loans that are bad, are handled. This will help to protect tax-payers money,” he said.

    He urged students to apply by logging into its portal through www.nelf.gov.ng and create an account using their existing credentials.

    Sawyerr said the students would also be required to document their information such as their JAMB admission letter, NIN and BVN.

    He listed other required information to include, personal details, academic information, and financial needs.

  • Students loan application portal opens May 24 – NELFUND

    Students loan application portal opens May 24 – NELFUND

    The Nigerian Education Loan Fund (NELFUND),  has announced May 24 as official date for the opening of portal for student loan applications.

    The Managing Director of NELFUND,  Mr Akintunde Sawyerr, disclosed this on Thursday  in a statement made available to newsmen in Abuja by the Fund’s Media and Public Relations Lead, Nasir Ayitogo.

    Sawyerr said the opening of the portal marked a significant milestone in the commitment of President Bola Tinubu to foster accessible and inclusive education for all Nigerian students.

    According to him, through the portal, students could now access loans to pursue their academic aspirations without financial constraints.

    He added that the portal provides a user-friendly interface for students to submit their loan applications conveniently.

    “We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation,” he said.

    Sawyerr urged students to access the portal on www.nelf.gov.ng to begin application.

  • Nigerian child’s future brighter with education loans- Tinubu

    Nigerian child’s future brighter with education loans- Tinubu

    President Bola Tinubu says the future of the Nigerian child will be brighter as the path to take them out of poverty has been cleared with the Students’ Loans Re-enactment Bill.

    The President said this when he hosted members of the APC Presidential Campaign Council (PCC) and the Independent Campaign Council (ICC) to Iftar on Wednesday in Abuja.

    “The only thing that can fight poverty is education. Today, I signed the bill for the Students’ Loan Scheme. Imagine the children of the poor; what about people going through the mud, fishing in the ponds?

    “How do you tell their children that their future will be brighter? It is only through education that we can fight poverty. A promising future awaits our children,” the president said.

    Tinubu also used the occasion to reassure Nigerians that the economy was being steered to the path of sustainable growth and broad-based prosperity for Nigerian families.

    “The economy is looking much better. Yes, we have challenges with inflation, but we will bring it down.

    ”When the exchange rate was going haywire, it looked like we were asleep, but we worked on it diligently, and it is going down; it is getting better.

    “Borrowing was higher a year ago, but today, we are reengineering the financial landscape, and our revenue is expanding. And we are taking up our sovereignty and earning our respect back in the comity of nations,” Tinubu said.

    He acknowledged the contributions of the members of the PCC and ICC toward his election in February 2023.

    “It is your footwork and footprints that made me the President.I campaigned on hope, and you promised Nigerians hope and a good result when campaigning for me.

    “There are a lot of expectations. I, therefore, have to work hard for it. There is a windy road we are traveling on. We have to navigate carefully. Otherwise, one ends up in the bush, and that is all I have been focused on.

    “It is your effort, resourcefulness, and dedication that has brought us here. The results will not come suddenly, you have endured the campaign, you must endure more, and I assure you that a very bright light beckons for you and your children.

    “Nigeria will prosper, and we will all reap the benefits. We will work with determination and persistence,” he said.

    Tinubu urged the citizens to continue to have faith in Nigeria by supporting his administration to succeed for the benefit of all.

    He said,  “Europe and America did not get to where they are today in one day, but through persistence and hard work, which takes time and consistent focus.”

    Vice-President Kashim Shettima, Senate President Godswill Akpabio, Director-General of the defunct PCC, Sen. Simon Lalong, and the Director-General of the defunct ICC, in their various remarks, thanked the supporters for their perseverance.

    They assured them that the president had not forgotten their invaluable efforts and he would not disappoint them.