STUDENTS LOAN: 1.2M BENEFICIARIES TO BE IN FIRST BATCH
The Nigerian Education Loan Fund (NELFUND) says the Unified Tertiary Matriculation Examination registration number, National Identification Number and Bank Verification Number are major requirements for accessing Students Loans.
The Managing Director of NELFUND, Mr. Akintunde Sawyerr, made this known during an interactive session with members of Education Writers Association of Nigeria (EWAN) in Lagos.
“About 1.2 million Nigerian students in tertiary institutions and government-recognised skill acquisition centres will be among the first batch of beneficiaries,” he said.
According to the managing director, the money to fund the loan scheme is one per cent of the revenue generated by the Federal Inland Revenue Service annually.
Sawyerr said that the requirements for accessing the laon were to confirm eligibility.
He said that the management of the loan scheme would verify applications and attached requirements to ascertain eligibility.
He said that disbursement would be in two segments.
“The school fee will be paid to the institution on behalf of the student and the stipend directly to student’s account,” he said.
According to the managing director, financially-indigent undergraduates, who need the loan for their education, are free to apply on a designed website and must provide their matriculation details.
He said that the beneficiaries would be expected to start servicing the loans when they would secure jobs or set up businesses.
More Stories
VIDEO: LAGOS ENVIRONMENTAL SANITATION CORPS ARRESTS 18 BRIDGE SQUATTERS
The Lagos Environmental Sanitation Corps, popularly known as KAI, has arrested 18 persons for squatting under the bridge leading from...
TUC GIVES NERC ONE WEEK TO REVERSE ELECTRICITY TARIFF HIKE
On Wednesday, the President of the Trade Union Congress, Festus Osifo, said it was unethical for Nigerians to pay high...
NIGERIA RECORDS 227 NATIONAL GRID COLLAPSES IN 14 YEARS AMID EPILEPTIC POWER SUPPLY
According to reports, Nigeria recorded 227 total and partial national grid collapses from 2010 to April 2024 amid epileptic power...
LAGOS-CALABAR COASTAL ROAD: ‘YOU HAVE NO CLAIM’ – UMAHI ATTACKS LANDMARK BEACH OWNER
Minister of Works, David Umahi has said the Group Chief Executive Officer and founder of The Landmark Group, Paul Onwuanibe,...
MAY DAY: KADUNA SETS ASIDE N500M REVOLVING LOAN FOR WORKERS
The Governor of Kaduna State, Uba Sani has said his administration has commenced the implementation of the N500 Million Revolving...
FUEL SCARCITY: REPS ASK SECURITY AGENCIES TO CLAMP DOWN ON MARKETERS HOARDING PETROL
The House of Representatives Committees on Petroleum Resources (Downstream and Midstream) have urged security agencies to clamp down on fuel...