The Nigerian Education Loan Fund (NELFUND) says it is exploring plans to deploy its IT teams to institutions across Nigeria to enable direct integration with their student portals.
This was disclosed by Mr Akintunde Sawyerr, Managing Director of NELFUND, during a stakeholders’ engagement and technical workshop held on Tuesday in Abuja.
In a bid to simplify the student loan application process, Sawyerr explained that the proposed integration would allow students to apply for loans directly through their institutional portals, eliminating the need to visit NELFUND’s platform.
“We’re exploring the possibility of deploying our IT teams to institutions to enable direct connection with your portals.
Ideally, students should be able to apply via your platforms without having to come through NELFUND, making the process smoother and more accessible,” he said.
Call for institutional collaboration
Sawyerr stressed the need for strong collaboration between NELFUND and educational institutions to ensure a sustainable and impactful student loan system.
“We’re striving for stress-free access, a system students can trust.
Transparency is key so that no applicant is left in the dark. We rely on you, our institutional partners, to help bring this vision to life,” he said.
“As we integrate NELFUND processes with institutional systems and standards, we must remember that at the centre of all this is the student, a young Nigerian with dreams and ambition. Everything we do must serve that student.
The only way forward is through collaboration, open communication, and practical solutions,” he added.
Bridging financial gaps
He lamented the longstanding challenges faced by students in technical institutions who often abandon their education due to financial difficulties.
“For too long, students, especially in technical institutions, have faced significant financial barriers. Many have had to drop out, while others never even considered applying.
That’s the gap we at NELFUND aim to close, but we can’t do it alone. This is a shared mission involving government institutions and the private sector.
“At NELFUND, our mission goes beyond disbursing loans. It’s about opening doors and ensuring every young Nigerian with a desire to learn and grow has a real opportunity, regardless of their background, location, or field of study,” he said.
Funding figures
Iyal Mustapha, Executive Director of Operations at NELFUND, shared that over 320,000 students had so far received funding, with more applications undergoing verification.
“We have 576,000 registrations on our portal, but only 516,000 completed applications. Some may have dropped out due to data issues or just wanted to test the system.
We want to bridge this gap, and with your support, we can ensure more students access the institutional loan,” Mustapha explained.
He clarified that the institutional loan, distinct from the monthly upkeep loan of N20,000, is disbursed directly to institutions.
