The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, says successful applicants will begin receiving loan disbursement alerts starting next week.
In an interview on Channels TV’s Politics Today on Wednesday, Sawyerr revealed that over 110,000 students have successfully applied for the loan.
He noted that the funds would be disbursed only to students who have already commenced their academic sessions.
Sawyerr stated: “Over 110,000 students have successfully applied for student loans and been verified eligible. We are conducting further verification to ensure they qualify for the loan. These students will likely start receiving disbursements next week.”
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While emphasising the difference between approval and disbursement, he explained that students whose academic sessions are about to start will be the first to receive the funds.
“The first recipients of the alerts next week will be those beginning a new session in their institutions. Others will receive their funds as their sessions begin, which may be in a few weeks or months. Those who have already started their sessions or are about to start in the last few weeks will receive their funds starting next week,” he added.
