The Managing Director and CEO, Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr has announced that tertiary institution students who have successfully applied for the Federal Government’s loan scheme and are commencing new academic sessions will start receiving credit alerts by next week.

Sawyer who made the disclosure while addressing State House Correspondents after the official launch by President Bola Tinubu yesterday in Abuja, said that the loans will cover both tuition fees and living expenses, with funds directly sent to Educational institutions and stipends provided to students.

Our correspondent Raliat Adenekan reports that NELFUND Chief Executive explained that for now only students attending government-owned tertiary institutions, including universities, colleges of education, and polytechnics, are eligible for the loans with further reviews to be made in future.

Despite technical glitches and security challenges, Sawyerr who assured of continued efforts to support students and maintain the integrity of the loan process, added that NELFUND is working to ensure data accuracy and completeness, collaborating with security agencies to combat fraudulent activities.