35,000 people applied for student loans in one week, says NELFUND.

One week after the website launched, thirty-five thousand persons had applied for the Federal Government’s student loan programme.

Managing Director Akintunde Sawyerr of the Nigerian Education Loan Fund reports that over 60,000 individuals have enrolled on the platform for educational loans.

“Over 60,000 people have registered so far. Actually, it’s registering; loan applications are not made through registration. He mentioned on Friday that we had received around half of those applications. He estimated that between 30,00 and 35,000 persons had actually applied for loans. Approximately half of the registrations are so involved.

In an explanation of why not every user on the site has applied for a loan, Sawyer cited problems with schools.

That divergence has a cause, he added. Since we let you create an account, user name, and password, the registrations are individuals who have been able to access the website and go and create an account.

Following that, you have a dashboard that follows you through the entire procedure. Applying for the loan itself comes next. A small amount of a gap exists there since some of the institutions haven’t supplied correct and comprehensive data.

He did, however, guarantee that NELFUND is trying to fix the issue and smooth out the application procedure.

“We have undoubtedly attracted 60,000 people who want this loan, which is fantastic,” Sawyer added. We’ll get past their early issues so they may submit a loan application.

The head of NELFUND clarified the timetable for the student loan application as well.

He said the public will have year-round access to the application portal.

We offer [application] year-round. Starting this procedure, we want to ensure that we identify as many people as possible who require this loan. The president asks for that, he declared.