Abuja, Nigeria — The Nigeria Education Loan Fund (NELFUND) has announced the full digital transformation of its Student Loan Application System (SLAS), in a move designed to simplify and expedite the loan application process for both tertiary institutions and applicants across the country.
This was made known in a press statement issued by NELFUND’s Director of Corporate Communications, Oseyemi Oluwatuyi, who emphasized that the digitization marks a significant upgrade aimed at boosting efficiency and transparency.
As part of the new system, all accredited institutions are now mandated to formally request access to the digital platform in order to verify and upload relevant student data tied to loan applications. According to Oluwatuyi, this step is essential to ensuring quick processing and timely disbursement of approved student loans.
Once institutions are granted access, they will be able to view a real-time dashboard of their students’ loan applications, validate submitted data, and monitor the progress of each request through every stage of the process.
“We are calling on all institutions to act swiftly in their students’ best interest,” the statement read. “Data verification and upload by the institutions are compulsory procedures that must be completed before any loan can be finally approved and disbursed.”
The digitization of the student loan application system aligns with President Bola Ahmed Tinubu’s broader educational reform agenda. The student loan scheme itself stands as a cornerstone of his administration’s efforts to improve access to higher education. Shortly after assuming office in 2023, President Tinubu signed the Access to Higher Education Act into law, creating a legal framework to provide interest-free loans to financially disadvantaged Nigerians seeking tertiary education.
By Enoch Odesola | June 18, 2025
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