EXCLUSIVE: Student Loan: Nigerian govt set to pay N35 billion to 70,000 successful applicants

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Though the spokesman for NELFUND, Nasir Ayitogo, said he could neither confirm nor deny the information when our reporter reached out to him on the phone for confirmation, other highly placed sources within the agency confirmed the development. It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall.The fees to be paid, according to these sources, will be the total of fees payable by students based on their courses of study which could include other sundry fees such as departmental levies, laboratory fees, and health insurance fees, among others.

The source clarified that whether the beneficiaries’ schools are in session or not, the N20,000 upkeep allowance will be paid every month to allow for their upkeep even while at home.Meanwhile, the sources confirmed that a total of 50,000 additional applications are already currently being evaluated for possible consideration, noting that the agency receives an average of 150 applications per day.

The agency said for applicants to access the fund, the individual’s details must feature in the data set sent by the institution to the NELFUND SVS, where it claims automatic applicant verification can take place seamlessly.The Nigerian Education Loan Fund was created by the Access to Higher Education Act, which President Bola Tinubu signed.

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