NELFUND digitises student loan system, urges schools to upload verified data or risk delays.
Only students from compliant institutions will access loans under Tinubu’s education reform plan.
The Nigeria Education Loan Fund (NELFUND) has announced the full digitization of its student loan processing system, calling on all tertiary institutions to urgently verify and upload their students’ data to avoid delays in disbursements.
In a press release issued on Wednesday, Mr. Oseyemi Oluwatuyi, NELFUND’s Director of Corporate Communications, confirmed that the Student Loan Application System (SLAS) has been fully upgraded to enable a more efficient and transparent loan process for Nigerian students.
“This upgrade is designed to ensure timely loan approvals,” Oluwatuyi stated. “All accredited tertiary institutions must now request access to the system to verify, upload, and monitor their students’ application data.”
The directive marks a critical step in the implementation of one of President Bola Tinubu’s flagship education reforms, a national student loan scheme aimed at making tertiary education more accessible to young Nigerians, especially those from low-income backgrounds.
To date, NELFUND has disbursed N116.2 billion in student loans and recently secured an additional N58.4 billion in budget approval to continue supporting beneficiaries across the country.
However, the agency warned that students attending institutions that fail to onboard and upload verified records will not be approved for the loan. NELFUND urged such institutions to immediately send a formal request for access via [email protected], emphasizing that verification and data upload are non-negotiable requirements for final loan disbursement.
The move is expected to streamline the entire loan process, reducing paperwork, limiting errors, and ensuring that disbursements are made only to eligible and verified students. This is also seen as a way to curb fraud and improve accountability in the management of public education funds.
Education stakeholders have welcomed the digital transition, noting that it aligns with broader goals of enhancing technology adoption in public service delivery. However, they also urged NELFUND to provide technical support and training for institutions struggling to adapt to the new system.
While some universities and polytechnics have already completed the onboarding process and submitted their data, a significant number are yet to comply, raising concerns about possible delays for thousands of student applicants if urgent action is not taken.
The student loan scheme, originally launched as part of the Access to Higher Education Act, is structured to provide interest-free loans to qualified students for tuition, housing, and other academic needs. Repayment is designed to begin after graduation and upon securing gainful employment, further reducing the burden on students and their families.
NELFUND reiterated that the success of the scheme depends heavily on the cooperation of educational institutions and the integrity of submitted data. The agency promised regular updates and technical assistance to help institutions stay compliant.
The full digitization of SLAS also allows students to monitor their loan application status in real time, enhancing transparency and reducing anxiety associated with delays or uncertainties.
As the 2025/26 academic session approaches, the pressure is now on tertiary institutions to fully align with NELFUND’s requirements to ensure seamless access to the student loan program for their enrollees.
