Students Loan recovery begins 2 years after NYSC

The Federal Government says the recovery process from beneficiaries of the Nigeria Education Loan Scheme (NELFund) will commence two years after the National Youth Service Scheme (NYSC).

The Executive Secretary of NELFund, Dr Akintunde Sawyer, made this known during an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja.

Sawyer said that the reason for the two-year grace after NYSC was to afford the beneficiaries enough time to get a job and be stable before the repayment.

He said the Federal Government has set the month of March for a definite opening of the NELFund portal for eligible students and urged them to register to access the fund.

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President Bola Tinubu on June 12, 2023, signed the Access to Higher Education Bill into law to enable indigent student access interest-free loan to pursue their education in any Nigerian tertiary institutions. (NAN)