NELFUND Develops Tech-Driven System to ease Student Loan access

The Nigerian Education Loan Fund (NELFUND) has announced plans to build a technology-driven platform designed to simplify access to its student loan scheme across the country.

Managing Director and Chief Executive Officer of NELFUND, Mr. Akintunde Sawyerr, disclosed this during a Stakeholders Engagement Session and Technical Workshop on NELFUND System Automation and Loan Application Processes held in Abuja.

In a statement, Sawyerr explained that the FUND was working towards creating a transparent and efficient system where students could confidently and easily access loans. He revealed that no fewer than 320,000 students have already received their payments, while many others are currently undergoing verification to process theirs.

“At NELFUND, our mission is beyond giving loans. It’s about creating opportunities and ensuring that every young Nigerian, regardless of background or location, has a fair chance at education and growth,” Sawyerr stated.

He noted that for years, students in technical institutions had faced significant financial obstacles, with many dropping out or unable to apply at all. He said the initiative seeks to close that gap by not just providing financial support, but by establishing a technology-driven process that allows easy application, swift institutional verification, and timely, accountable disbursement of funds.

According to him, “We are aiming for a system that ensures access without stress, a platform students can trust, and a process that leaves no one confused about their application status.”

Sawyerr urged government institutions and the private sector to work alongside NELFUND in realising the project. He praised polytechnics, monotechnics, and institutes for their ongoing technical expertise and contributions to national development and encouraged them to collaborate in delivering a functional, sustainable, and transformative system for Nigerian students.