NELFUND to begin 2024/2025 tutorial 12 months pupil mortgage software on February 22
The Nigerian Training Mortgage Fund (NELFUND) has introduced that the applying cycle for the 2024/2025 tutorial 12 months pupil mortgage program will start on February 22, 2025.
This was disclosed by the Managing Director of NELFUND, Akintunde Sawyerr, at a press convention in Abuja on Monday.
He additional confirmed that the applying course of for the 2023/2024 pupil mortgage program will formally shut on February 21, 2025.
Sawyerr emphasised that the transition to the brand new cycle displays NELFUND’s dedication to making sure transparency, effectivity, and steady enchancment in pupil mortgage administration.
“NELFUND stays devoted to offering {financial} assist to college students, guaranteeing that no deserving particular person is denied training as a consequence of {financial} constraints,” he said.
Software statistics and disbursement particulars
Offering insights into this system’s attain, Sawyerr revealed that in simply 220 days, NELFUND had obtained a complete of 364,042 functions, averaging 1,000 functions per day.
“I’m proud to announce that N22,736,960,971.58 has been disbursed to cowl institutional charges throughout 150 establishments, instantly benefiting 215,514 college students,” he stated.
- He additional disclosed that a further N12,818,960,000 had been disbursed as maintenance assist, benefiting 169,114 college students. Every of those college students receives N20,000 month-to-month to help with their residing bills.
- Sawyerr reassured candidates who had efficiently submitted their functions earlier than the deadline that their requests can be processed in response to the fund’s established tips.
“Our group stays dedicated to making sure a good and well timed evaluation of all pending functions,” he stated.
He additional defined that the transition to a brand new cycle is critical to align with the tutorial calendar and streamline operational effectivity.
“This transition is a essential step to streamline our operations, align with the tutorial calendar and improve our capacity to course of functions effectively,” he added.
What it’s best to know
The Nigerian Training Mortgage Fund (NELFUND) is at present updating its system and college students’ database to establish dropouts who should be receiving stipends.
In response to Mr. Mustapha Iyal, the Government Director of Operations, this replace is critical to make sure that solely eligible college students proceed to obtain {financial} assist. NELFUND is working intently with establishments to confirm enrollment statuses, as it’s troublesome to trace dropouts with out this method replace.
- Moreover, college students who attended the 2023-2024 tutorial session however did not transition into the 2024-2025 session could not obtain the upcoming maintenance stipend.
- The 2024-2025 software cycle shall be used to additional refine the database, guaranteeing that solely those that meet eligibility standards proceed to profit from the fund.
