NELFUND Plans Direct Integration with School Portals to Ease Student Loan Access

NELFUND Plans Direct Integration with School Portals to Ease Student Loan Access

The Nigerian Education Loan Fund (NELFUND) has announced plans to deploy its Information Technology (IT) teams to higher institutions across the country to enable seamless integration with student portals, a move aimed at simplifying the student loan application process.

This was revealed by NELFUND’s Managing Director, Mr. Akintunde Sawyerr, during a stakeholders’ engagement and technical workshop held recently in Abuja.

According to Sawyerr, the proposed integration will allow students to apply for loans directly through their institutions’ online platforms without the need to visit the NELFUND website.

“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.

Sawyerr emphasized the importance of collaboration with educational institutions to build a sustainable and transparent loan system that students can trust.

“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 added.

Highlighting the core mission of NELFUND, Sawyerr said, “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 expressed concern over the financial difficulties faced by students, particularly in technical institutions, which often lead to high dropout rates.

“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,” Sawyerr stated.

He added that the Fund’s objective goes beyond disbursing loans to enabling equal educational opportunities for all Nigerian students regardless of background, location, or field of study.

Also speaking at the event, Iyal Mustapha, NELFUND’s Executive Director of Operations, disclosed that over 320,000 students have already benefited from the loan program, 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 said.

He clarified that the institutional loan, which is separate from the N20,000 monthly upkeep allowance, is disbursed directly to schools on behalf of the students.

The integration initiative is expected to enhance the efficiency and reach of the student loan system, providing more students with access to financial support for their education.