Federal Government Delays Student Loan Application Due to Incomplete Data from State Institutions
The Federal Government has announced a 14-day postponement of the student loan application process for state institutions, citing inadequate data submissions from several state-owned universities, colleges, and polytechnics.
In a statement released on Tuesday by Nasir Ayitogo, Head of Media and Public Relations at the Nigerian Education Loan Fund (NELFUND), the decision to delay the application window was prompted by the failure of many state institutions to upload essential student data and fee information onto the NELFUND Student Verification System (SVS).
According to the statement, only a limited number of state-owned institutions have completed the data submission process: 20 out of 48 state universities, 12 out of 54 state colleges, and 2 out of 49 state polytechnics.
“While we appreciate the efforts of the institutions that have complied, the failure of others to submit their data poses significant challenges for ensuring a smooth and accurate verification process for student loan applicants,” the statement read.
Originally scheduled to open on June 25, 2024, the application process will now commence on July 10, 2024.
This extension aims to provide additional time for state institutions to fulfill data submission requirements, ensuring that their students can benefit from the Federal Government’s student loan scheme administered through NELFUND.
NELFUND emphasized the importance of complete and accurate data submissions, including JAMB numbers, matriculation numbers, admission details, student names, academic levels, faculties, departments, program durations, fees, and gender information.
“Incomplete or incorrect data submissions may lead to delays in application processing and potential disqualification of affected students,” NELFUND cautioned.
The fund urged all remaining state institutions to expedite their data submission processes and ensure data accuracy before the revised deadline. Institutions failing to meet this deadline risk disadvantaging their students who rely on these loans to support their education.
NELFUND expressed appreciation for the cooperation of institutions that have already completed their submissions and urged others to promptly follow suit.
