The Nigerian Education Loan Fund (NELFUND) on Tuesday requested that all approved schools upload and verify their students’ information on the new Student Loan Application System (SLAS).
NELFUND, in a public notice signed by spokesperson Oseyemi Oluwatuyi, said SLAS has now been fully digitised to streamline and accelerate the student loan processing experience for institutions and applicants.
“With this upgrade, all accredited institutions are now required to request access to SLAS to verify and upload student data related to loan applications. This is a critical step that ensures the timely processing and disbursement of approved student loans,” NELFUND said.
AOn Tuesday, the Nigerian Education Loan Fund (NELFUND) urged all accredited institutions to upload and validate their students’ details on the revamped Student Loan Application System (SLAS).
In a public declaration attributed to spokesperson Oseyemi Oluwatuyi, NELFUND noted that SLAS has now been fully computerized to enhance and expedite the student loan processing journey for both schools and applicants.
“With this enhancement, all recognized institutions are now mandated to apply for access to SLAS to verify and upload student information pertinent to loan applications. This step is essential for ensuring timely processing and distribution of sanctioned student loans,” stated NELFUND.
As per NELFUND, educational establishments must now seek access to the new system by emailing [email protected].
After access is provided, institutions can log into a live dashboard, allowing them to view their students’ applications, confirm specifics, and monitor the status of each loan request.
NELFUND has encouraged all institutions to act promptly in their students’ best interests, as verification and data upload by the schools are compulsory steps before the final approval and disbursement can take place.
Students whose loan status indicates “Verified” are reminded that their applications still need final endorsement, as per NELFUND. This will occur only once their institution uploads their information. Upon completion, the status will transition to “Disbursed” once payment is executed.
“If your loan portal status currently reads “Verified,” it means your application has successfully cleared initial assessments. However, the final endorsement and disbursement depend on the confirmation and uploading of your data by your institution.
“Once this process reaches completion, your status will be updated to “Disbursed” once the payment of your fees has been finalized,” NELFUND remarked.
