introduction:

The Nigerian Education Loan Fund (NELFUND) has announced the postponement of the launch of the student loan program, which was initially scheduled to commence on June 25, 2024. The postponement has been attributed to the low data submissions from state-owned institutions, which have failed to upload the required student data and fee information to the NELFUND Student Verification System (SVS).

Reason for postponement:

According to NELFUND, only a limited number of state-owned institutions have successfully completed the data submission process, with 20 state universities out of 48, 12 state colleges out of 54, and 2 state polytechnics out of 49 submitting the required data. The failure of several state-owned institutions to upload the required data has posed significant challenges to ensuring a seamless and accurate verification process for student loan applicants.

Important of Complete and Accurate Data:

To facilitate an efficient and error-free application process, it is crucial that all state institutions provide complete and accurate information. This includes JAMB numbers, matriculation numbers, admission numbers, full names, level, faculties, departments, duration of program, fees, and gender of all eligible students. Incomplete or incorrect data submissions will result in application delays and potential disqualification for affected students.

Consequences of Failure to Meet Revised Deadline

Institutions that fail to meet the revised deadline risk disadvantaging their students, who depend on these loans to support their education.