President Bola Tinubu has approved N35 billion for the take – off of the student loan scheme. 

So far, 70, 000 applications have been approved by the Nigerian Education Loan Fund (NELFUND).

Another 50, 000 applications are currently being evaluated and would be approved within 30 days.

According to the Managing Director/Chief Executive Officer, NELFUND, Akintunde Sawyerr, the funds will be disbursed based on the timetable and calendars of the academic session of each institution.

Sawyerr added that the portal will be permanently open because institutions don’t have a uniform calendar. 

No fewer than 1.2 million students are expected to benefit from the cardinal programme of the Tinubu administration.

Applicants are required to provide their Joint Admissions and Matriculation Board (JAMB) letter, National Identification Number (NIN), and Bank Verification Number (BVN).