The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has said that successful applicants will start receiving alerts from next week.
He said over 110,000 students had successfully applied for the loan, noting that it would only be disbursed to students who have started their session.
Sawyerr, who stated this during an interview on Channels TV’s Politics Today, said other students would receive alerts as soon as their sessions start.
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He said, “Over 110,000 students have successfully applied for student loans. They have been verified as eligible applicants. But we still carry out further verification to make sure that they are qualified to receive this loan. Over 110,000 students are likely to start receiving the disbursement next week.
“To be specific, it is one thing to get approval for something and another to begin to receive the value. The people who are first going to receive alerts as early as next week are people who are about to start a new session in their institutions.
“Others will not receive it until their session begins, which may be several weeks or a couple of months down the line. Those who will start now or have started in the last few weeks will start to receive value from next week.”
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