The Nigeria Education Loan Fund (NELFUND) has officially announced the full digitization of its Student Loan Application System (SLAS), a move aimed at simplifying and speeding up the student loan application and approval process for both educational institutions and their students.
In a statement released on Wednesday by the Director of Corporate Communications, Oseyemi Oluwatuyi, NELFUND emphasized that with this technological upgrade, all accredited tertiary institutions in Nigeria are now mandated to request access to the digital SLAS platform in order to verify and upload student data linked to loan applications.
“This is a critical step that ensures the timely processing and disbursement of approved student loans,” the statement read.
According to NELFUND, institutions yet to onboard the new system have been advised to send an official access request via email to [email protected] mailto:[email protected] without any further delay. Upon receiving access, institutions will gain the ability to view a real-time dashboard containing their students’ loan application data, confirm the authenticity of submitted details, and monitor the progress of each loan application throughout the process.
The statement further stressed the importance of swift action from institutions: “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 digital transition of the loan application process is part of a broader effort to ensure transparency, accuracy, and speed in the delivery of financial support to students across Nigerian tertiary institutions.
The student loan initiative is widely regarded as a flagship policy under President Bola Ahmed Tinubu’s administration in the education sector. Shortly after assuming office, President Tinubu signed the Access to Higher Education Act, which provides the legal framework for financially supporting low-income or indigent Nigerian students by offering them loans to pay tuition and other academic fees.
This landmark law led to the establishment of the Nigeria Education Loan Fund, which now serves as the central body responsible for managing the student loan scheme and ensuring its implementation nationwide.
What you should know
NELFUND has fully digitized its student loan application process to improve efficiency. Accredited institutions must now request access to the online system to upload and verify student data—an essential step before loans can be approved and disbursed.
The student loan initiative stems from President Tinubu’s education reform agenda, with the Nigeria Education Loan Fund overseeing its implementation.
