The Nigerian Education Loan Fund has announced the full digitalisation of its Student Loan Application System a major step aimed at simplifying and accelerating the student loan application and disbursement process.
According to a statement released on Wednesday by the Director of Corporate Communications at NELFUND, Mr. Oseyemi Oluwatuyi, the upgraded digital system now requires all accredited tertiary institutions in the country to request access to the platform in order to verify and upload student data.
“With this upgrade, all accredited institutions are now required to request access to SLAS to verify and upload student data related to loan applications. This is a critical step that ensures the timely processing and disbursement of approved student loans,” Oluwatuyi stated.
Institutions that are yet to be onboarded are urged to immediately send an access request to [email protected]. Upon approval, institutions will gain access to a real-time dashboard where they can monitor their students’ loan applications, validate uploaded data, and track the status of each request.
“We urge all institutions to take immediate action in the interest of their students, as verification and data upload by the institutions are mandatory steps before final approval and disbursement can be completed,” the statement added.
The digitalisation of the loan system is part of President Bola Tinubu’s flagship initiative in the education sector. Shortly after his inauguration in 2023, President Tinubu signed into law the Access to Higher Education Act, which established a legal framework for providing interest-free loans to indigent students in Nigerian tertiary institutions.
The law also led to the establishment of NELFUND as the agency responsible for administering the scheme.
