President BOLA TINUBU has approved 35 billion naira for the take-off of the student loan scheme. 

At least, 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 said the portal will be permanently open because institutions do not have a uniform calendar. 

He added that applicants are required to provide their Joint Admissions and Matriculation Board (JAMB) letter, National Identification Number (NIN), and Bank Verification Number (BVN), noting that no fewer than 1.2 million students are expected to benefit from the cardinal program of President TINUBU’S administration.