NELFUND Develops Tech-Driven Student Loan System

In a bold move to enhance access to higher education funding, the Nigerian Education Loan Fund (NELFUND) is building a technology-driven system designed to streamline the loan application and disbursement process for students across the country.

The Managing Director and Chief Executive Officer of NELFUND, Mr. Akintunde Sawyerr, disclosed this during a Stakeholders Engagement Session and Technical Workshop focused on system automation and loan application procedures. The event, held in Abuja, brought together key representatives from Polytechnics, Monotechnics, and various technical institutions.

Sawyerr emphasized NELFUND’s commitment to providing a user-friendly platform that ensures transparent, accountable, and stress-free access to student loans.

“Our goal at NELFUND extends beyond simply offering financial aid,” he stated. “We’re opening doors to opportunity, ensuring that every Nigerian student—regardless of background or institution—can pursue their education without financial constraints.”

He revealed that over 320,000 students have already received funding, with many more currently undergoing the verification process.

“For too long, students, especially those in technical institutions, have faced significant financial hurdles. Some are forced to drop out, while others never apply due to the complexity of the process. This is the gap we are closing through technology,” Sawyerr said.

The NELFUND boss stressed that the initiative is a collaborative effort involving government bodies and private sector partners. The automated system is designed to simplify student applications, enable institutions to verify with ease, and facilitate prompt and fair disbursement of funds.

He called on educational institutions to continue their invaluable contributions to nation-building through technical expertise and practical training, and to partner with NELFUND in creating a system that is not only sustainable but transformative.

“Institutional collaboration is vital,” Sawyerr noted. “We depend on your data, your feedback, and your cooperation to bring this vision to life.”

He concluded by commending the institutions for their decades-long impact on communities and economies, and encouraged their continued partnership in driving the future of accessible education financing in Nigeria.