NELFUND to Launch Job Portal for Student Loan Beneficiaries by 2026

In a bold move to support young Nigerians beyond the classroom, the Nigerian Education Loan Fund (NELFUND) has announced plans to roll out a dedicated job portal by 2026. The platform aims to connect student loan recipients with employment opportunitie, locally and globally, marking a major step towards bridging the gap between education and economic empowerment.

The Managing Director of NELFUND, Mr. Akintunde Sawyerr, made the announcement during a media briefing in Abuja as the agency marked one year of operations. He clarified that while the portal won’t guarantee jobs, it will play a key role in easing graduates' transition into the workforce. Listings from both the public and private sectors, as well as international employers, will be featured on the portal.

 “We don’t just disburse loans and walk away. This job portal is our way of staying committed to the student’s journey toward financial independence,” Sawyerr said.

Repayment Begins Only After Employment

Sawyerr also stressed that no student will be forced to repay the loan unless they are employed and have completed the National Youth Service Corps (NYSC). Repayments will be deferred until gainful employment is secured.

Once employed, 10% of the beneficiary’s monthly income will be automatically deducted by their employer and remitted to NELFUND, validated through the Fund’s employment registry.

 “If you don’t have a job, you don’t pay. And when you eventually get one, repayment starts afresh,” Sawyerr explained.

In case of job loss or resignation, deductions are paused. And in the event of a borrower’s death, the loan is written off entirely, families will not be burdened.

Institutions Must Refund Duplicate Payments

The Fund is also dealing with cases where students paid their tuition fees before NELFUND disbursements arrived. Sawyerr called on institutions to refund these payments immediately.

 “We’ve received petitions from students who paid under pressure, only to discover their schools later received the NELFUND funds. Institutions must do the right thing,” he stated.

Anti-corruption agencies such as the EFCC and ICPC are reportedly investigating some institutions that have refused to refund. NELFUND advises that where direct refunds to students are not possible, schools should remit the funds back to the agency for redistribution.

Growing Reach: 3.2 Million Student Records and Counting

Mustapha Iyal, the Fund’s Executive Director of Operations, revealed that NELFUND is currently managing over 3.2 million student records and expects at least one million new applications by year-end.

 “We’re not making it mandatory, but we’re working to support as many students as possible so no one is forced to drop out due to financial hardship,” Iyal stated.

Technical & Vocational Training Also Supported

In an inclusive twist, NELFUND has expanded its coverage beyond universities. A new scheme focused on vocational and technical education is underway, starting with a pilot in Enugu between June and July 2025. The initiative offers interest-free loans for training costs, daily transport, upkeep stipends, and toolkits for graduates of certified trade schools.

Applications will be processed through the NELFUND portal and successful candidates will be matched with accredited training centres across the country.

Final Thoughts

NELFUND’s shift from just providing loans to creating a pipeline toward employment shows a commendable commitment to long-term impact. As the conversation on student debt continues globally, Nigeria’s model might just offer a fresh, compassionate approach that balances accountability with opportunity.

By Insight by Oppy