The Nigerian Education Loan Fund (NELFUND) has decided to provide 70,000 candidates who have previously been successful in their Student Loan applications with a total of N35 billion in fees and monthly maintenance allowances.
The 120,000 applicants who submitted their applications by Friday, June 21, were selected from the pool of successful applicants, who are students in higher institutions nationwide that are owned by the federal government.
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According to sources, successful applicants can monitor the status of their applications by visiting their dashboards on the agency website.
When our reporter called NELFUND’s spokesman, Nasir Ayitogo, for clarification, he stated he could neither confirm nor reject the information; nonetheless, additional well-placed sources within the agency verified the development.
But Mr Ayitogo insisted that the organization was making every effort to fulfil its mission of making impoverished Nigerian students smile. He added that the kids are excited to take advantage of the program, which President Bola Tinubu has endorsed.
According to the sources, every applicant’s status should demonstrate the verification procedures followed until their application is accepted or rejected and the time when the funds are finally released.
This app helps students achieve great scores in the JAMB exams. The app consists of incredible features, such as mock mode, study mode, and practice mode. Also, the app gives answers and explanations to every question you come across in the app.
At ExamScholars, we believe in not just academic success but also in rewarding excellence. Over the years, we’ve witnessed countless success stories where students have soared to new heights using our 2024 JAMB CBT Practice App. From AyomideDaniyan’s extraordinary score of 353 to numerous students scoring 300 and above, the impact of our app is undeniable. This year, we’re taking it a step further by inviting schools to introduce our app to their students, and in return, they have the chance to win big!!
Student loan funds distribution
Various applicants will have their institution fees transferred straight into the bank accounts of their respective institutions, according to different sources within the agency.
These sources state that the fees that must be paid will be the total amount of money that students must pay for their courses, which may include additional costs like departmental levies, lab fees, and health insurance premiums, among other things.
The sources, who want anonymity due to their lack of power, stated: “It is evident that the total fees paid for the 70,000 applicants came to N35 billion, and that amount will be disbursed this week.”
“A monthly allowance for their maintenance will also be provided to the applicants.”
According to the sources, school fees will only be paid to various schools at the start of each session “to ensure that the funds aren’t utilized all at once.”
This app helps students achieve great scores in the JAMB exams. The app consists of incredible features, such as mock mode, study mode, and practice mode. Also, the app gives answers and explanations to every question you come across in the app.
At ExamScholars, we believe in not just academic success but also in rewarding excellence. Over the years, we’ve witnessed countless success stories where students have soared to new heights using our 2024 JAMB CBT Practice App. From AyomideDaniyan’s extraordinary score of 353 to numerous students scoring 300 and above, the impact of our app is undeniable. This year, we’re taking it a step further by inviting schools to introduce our app to their students, and in return, they have the chance to win big!!
N20,000 monthly allowance
The agency has finalized arrangements to pay N20,000 per month to all successful applicants for each year of their studentship, as sources have also verified.
According to a second source, “This amount will total N240,000 per year, but the applicant will have to reapply because it is a refundable loan and not a gift.”
The source made it clear that the beneficiaries will receive a monthly N20,000 upkeep allowance to help with their maintenance even when they are at home, regardless of whether their schools are in session.
This app helps students achieve great scores in the JAMB exams. The app consists of incredible features, such as mock mode, study mode, and practice mode. Also, the app gives answers and explanations to every question you come across in the app.
At ExamScholars, we believe in not just academic success but also in rewarding excellence. Over the years, we’ve witnessed countless success stories where students have soared to new heights using our 2024 JAMB CBT Practice App. From AyomideDaniyan’s extraordinary score of 353 to numerous students scoring 300 and above, the impact of our app is undeniable. This year, we’re taking it a step further by inviting schools to introduce our app to their students, and in return, they have the chance to win big!!
More applications are being evaluated.
The sources added that the agency receives an average of 1500 applications every day and verified that 50,000 more applications have already been reviewed for potential consideration.
“The second round of applicants from the federal institutions under examination is represented by these fifty thousand applications. Their fees and allowances will be paid as soon as the verifications of their information—including their studentship and guarantors’ details, among other things—are validated.
This app helps students achieve great scores in the JAMB exams. The app consists of incredible features, such as mock mode, study mode, and practice mode. Also, the app gives answers and explanations to every question you come across in the app.
At ExamScholars, we believe in not just academic success but also in rewarding excellence. Over the years, we’ve witnessed countless success stories where students have soared to new heights using our 2024 JAMB CBT Practice App. From AyomideDaniyan’s extraordinary score of 353 to numerous students scoring 300 and above, the impact of our app is undeniable. This year, we’re taking it a step further by inviting schools to introduce our app to their students, and in return, they have the chance to win big!!
Portal to open for state-owned institutions
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The agency had earlier announced that it would publish the complete list of institutions that have submitted their complete student data for the Student Verification System (SVS) portal on June 24. It also confirmed that applicants from tertiary institutions owned by the state governments across the 36 states of the federation will be onboarded beginning on Tuesday, June 25.
Declaring that the list will include both federal and state institutions “to ensure transparency and to encourage due access and participation in the scheme of both undergraduate applicants and tertiary institutions in this critical exercise,” the agency made this announcement on its X handle in a statement signed by Mr Ayitogo.
The statement said, “It is commendable that many federal institutions have already completed the exercise, having been the first wave, while the state-owned institutions are currently in the process of uploading the data to the NELFUND SVS.”
According to the agency, for applicants to be eligible for funding, their information needs to be part of the data set that the institution sends to the NELFUND SVS, where it says application verification may be completed automatically and without difficulty.
This app helps students achieve great scores in the JAMB exams. The app consists of incredible features, such as mock mode, study mode, and practice mode. Also, the app gives answers and explanations to every question you come across in the app.
At ExamScholars, we believe in not just academic success but also in rewarding excellence. Over the years, we’ve witnessed countless success stories where students have soared to new heights using our 2024 JAMB CBT Practice App. From AyomideDaniyan’s extraordinary score of 353 to numerous students scoring 300 and above, the impact of our app is undeniable. This year, we’re taking it a step further by inviting schools to introduce our app to their students, and in return, they have the chance to win big!!
NELFUND
President Bola Tinubu signed the Access to Higher Education Act, which established the Nigerian Education Loan Fund (NELFUND). All requests for student loans, grants, loan disbursement, and loan recovery fall under the purview of the Fund.
The fund will carry out additional fruitful endeavours and get funding from a variety of sources. As per the Act, the fund will be financed by donations, gifts, grants, endowments, and any additional money that comes in.
This app helps students achieve great scores in the JAMB exams. The app consists of incredible features, such as mock mode, study mode, and practice mode. Also, the app gives answers and explanations to every question you come across in the app.
At ExamScholars, we believe in not just academic success but also in rewarding excellence. Over the years, we’ve witnessed countless success stories where students have soared to new heights using our 2024 JAMB CBT Practice App. From AyomideDaniyan’s extraordinary score of 353 to numerous students scoring 300 and above, the impact of our app is undeniable. This year, we’re taking it a step further by inviting schools to introduce our app to their students, and in return, they have the chance to win big!!
