Loan application process now fully digitised – NELFUND

The Nigeria Education Loan Fund on Wednesday noted that its Student Loan Application System has now been fully digitised to streamline and accelerate the student loan processing experience for institutions and applicants.

“With this upgrade, all accredited institutions are now required to request access to SLAS to verify and upload student data related to loan applications. This is a critical step that ensures the timely processing and disbursement of approved student loans,” NELFUND said in a statement by its Director of Corporate Communications, Oseyemi Oluwatuyi.

The Fund also said that institutions that have not yet onboarded the system are kindly requested to send an access request to registration@nelf.gov.ng without delay. Once granted access, institutions will be able to view a real-time dashboard of their students’ loan applications, verify submitted data, and track the status of each application.

“We urge all institutions to take immediate action in the interest of their students, as verification and data upload by the institutions are mandatory steps before final approval and disbursement can be completed,” the statement said.

The implementation of the student loan scheme is President Bola Tinubu’s flagship project in the education sector.

Barely a month after his inauguration as president, Tinubu signed the Access to Higher Education Act, which creates a legal framework for granting loans to indigent or low-income Nigerians to facilitate the payment of their fees in Nigerian tertiary institutions.

The law, reenacted, created the Nigerian Education Loan Fund.