 has announced the complete digitisation of its Student Loan Application System (SLAS)){kind=link}
The Nigeria Education Loan Fund (NELFUND) has announced the complete digitisation of its Student Loan Application System (SLAS), a development designed to enhance and expedite the loan processing experience for both educational institutions and student applicants.
This upgrade represents a significant step forward in modernising the student loan process, making it more efficient and accessible.
According to a statement issued by NELFUND’s Director of Corporate Communications, Oseyemi Oluwatuyi, all accredited tertiary institutions are now required to formally request access to the SLAS platform.
This access allows institutions to verify and upload student information pertinent to loan applications. Such verification is a vital procedure that ensures timely processing and the subsequent disbursement of approved student loans to eligible beneficiaries.
NELFUND has further appealed to institutions that have yet to onboard the digital system to promptly send their access requests via email to registration@nelf.gov.ng. Once access is granted, these institutions will be able to utilise a real-time dashboard.
This dashboard provides a comprehensive overview of student loan applications, enabling institutions to confirm the accuracy of submitted data and monitor the progress of each application until final approval.
The statement emphasises the urgency for institutions to act swiftly, underscoring that verification and data submission are mandatory prerequisites before loan approval and fund disbursement can occur. “We urge all institutions to take immediate action in the interest of their students, as these steps are essential to ensure a smooth and efficient loan processing cycle,” the statement added.
This student loan scheme is a flagship initiative under President Bola Tinubu’s administration, reflecting his commitment to advancing the education sector in Nigeria. Within just one month of his inauguration, President Tinubu signed into law the Access to Higher Education Act.
This legislation established a legal framework aimed at providing financial assistance to indigent and low-income Nigerian students, facilitating their access to tertiary education through affordable loans.
The enactment of this law also led to the creation of the Nigerian Education Loan Fund, the body now responsible for managing the student loan programme. By implementing these measures, the government seeks to remove financial barriers that hinder many talented Nigerian youths from pursuing higher education.