The tuition fees for no fewer than 70,000 students in federal tertiary institutions whose loan applications have been approved by the Nigerian Education Loan Fund (NELFUND) are expected to be paid to their respective institutions of learning any moment from now.
Also, the loan application of 50, 000 students is currently undergoing evaluation for possible approval within the next 30 days for onward payment.
No fewer than 1.2 million students studying in the various federal tertiary institutions in the country are expected to benefit from the loan, this figure is besides students in state-owned tertiary institutions who are expected to come on stream in the next two days, on 25th June, 2024.
Credible intelligence who preferred not to be mentioned in print equally confirmed that the sum of N35 billion has been approved for payment across 124 federal tertiary institutions, adding that on average, the FUND receives 1,500 applications every day.
“The N35 billion cuts across all the 124 federal institutions that we have rolled out so far. However, we are still getting applications from students from federal institutions before we roll out the state institutions.
“While the state institutions will be rolled out, we will still be accepting applications from federal institutions. Applications will be on 24/7 because the calendars of each school are not the same. The funds would be disbursed soon”.