Section 37: Interpretation.

In this Act-
"applicant" means a Nigerian student who has applied for a loan from the Nigerian Education Loans Fund established under this Act;
"beneficiary" means a successful applicant for the student loan;
"employment" means a beneficiary engaged in economic activities which earns income either from external sources or personal endeavours under another person or himself;
"Fund" means the Nigerian Education Loans Fund established under this Act;
"tertiary institution" means any university, polytechnic, college of education established by the Federal Government or State Government, or a vocational or skills acquisition institution licensed by the Federal Government;
"loan" means loan to be granted to qualified students of any university, polytechnic, college of education established by the Federal Government or State Government, or a vocational or skills acquisition institution licensed by the Federal Government;
"Minister" is Minister responsible for the Federal Ministry of Education;
"student" means an applicant who has obtained a valid admission into a tertiary institution;
"President" means the President of the Federal Republic of Nigeria.