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The problem, which started over the weekend and lasted until the public holiday, caused many candidates to be delayed.In a message released on NELFUND's official X (previously Twitter) account on Wednesday, the group verified that the problem had been rectified by Tuesday morning. NELFUND encouraged all impacted students to log back into the portal, complete their BVN verification, and then proceed with their loan application.
If you are yet to apply for the student loan and in case you are still interested, follow this guide on How to apply for Federal Student Loan 2024 on NELFUND.
The Nigerian Education Loan Fund (NELFUND) is primarily funded by a 1% allocation of total revenues received by the Federal Inland Revenue Service (FIRS), Nigerian Immigration Service, and Nigerian Customs Service via taxes, levies, and charges.
President Bola Tinubu announced in August that the Economic and Financial Crimes Commission (EFCC) had given N50 billion in seized cash to NELFUND as per his mandate to expand the student loan program.
"To the esteemed students,
"We have noticed that several of you had problems with BVN verification while applying for a student loan over the last weekend, including the national holiday.
"We are delighted to notify you that the issue was addressed and completely resolved as of yesterday morning.
"We kindly advise all affected students to log back into the portal, complete the BVN verification process, and proceed with your loan application," the message stated.
NELFUND also thanked students for their patience during the disruption and assured them that the application process would now proceed smoothly without further complications.
"We have noticed that several of you had problems with BVN verification while applying for a student loan over the last weekend, including the national holiday.
"We are delighted to notify you that the issue was addressed and completely resolved as of yesterday morning.
"We kindly advise all affected students to log back into the portal, complete the BVN verification process, and proceed with your loan application," the message stated.
NELFUND also thanked students for their patience during the disruption and assured them that the application process would now proceed smoothly without further complications.
More about the Student Loan Act and NELFUND
The updated Student Loan Act of 2024 aims to remove financial barriers and make education more accessible to all Nigerian students, regardless of economic status.Related News
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The Nigerian Education Loan Fund (NELFUND) is primarily funded by a 1% allocation of total revenues received by the Federal Inland Revenue Service (FIRS), Nigerian Immigration Service, and Nigerian Customs Service via taxes, levies, and charges.
President Bola Tinubu announced in August that the Economic and Financial Crimes Commission (EFCC) had given N50 billion in seized cash to NELFUND as per his mandate to expand the student loan program.
Students from all over the country applied for the NELFUND loan, with Taraba, Yobe, Adamawa, Oyo, Plateau, Kaduna, Katsina, Benue, Borno, and Kano ranking first.
Since the fund's launch, NELFUND has granted N4.6 billion in tuition assistance to students at 59 accredited higher schools across the country.
This includes N2.5 billion disbursed in August and another N2.1 billion disbursed to students in 40 universities earlier this September.
Furthermore, in August, NELFUND began distributing N20,000 monthly stipends to beneficiaries, with 20,371 students from six higher institutions successfully collecting their July payments.
Since the fund's launch, NELFUND has granted N4.6 billion in tuition assistance to students at 59 accredited higher schools across the country.
This includes N2.5 billion disbursed in August and another N2.1 billion disbursed to students in 40 universities earlier this September.
Furthermore, in August, NELFUND began distributing N20,000 monthly stipends to beneficiaries, with 20,371 students from six higher institutions successfully collecting their July payments.
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