Student loan application now fully digitized — NELFUND

The management of Nigerian Education Loan Fund (NELFUND) has disclosed that the Student Loan Application System (SLAS) has now been fully digitised to streamline and accelerate the student loan processing experience for institutions and applicants.

The Fund said with this upgrade, all accredited institutions are now required to request access to SLAS to verify and upload student data related to loan applications.

Director, Strategic Communications, NELFUND, Mrs. Oseyemi Oluwatuyi, confirming the development in a statement on Wednesday in Abuja, explained that this is a critical step that ensures the timely processing and disbursement of approved student loans.

NELFUND, therefore, urged institutions that have not yet onboarded onto the system to send an access request to [email protected] without delay. “Once granted access, institutions will be able to view a real-time dashboard of their students’ loan applications, verify submitted data, and track the status of each application”.

“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.

“To our successful student applicants, please note: If your loan portal status currently shows “Verified,” this indicates that your application has successfully passed initial checks. However, final approval and disbursement are subject to confirmation and upload of your data by your institution. Once this process is completed, your status will be updated to “Disbursed” when the payment of your fees has been processed.

“We appreciate the cooperation of all institutions and the patience of our student beneficiaries as we continue to streamline and digitise the student loan experience for greater transparency, efficiency, and accountability,” the statement added.

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