- As many Nigerian students benefit from the opportunity, NELFUND has asked all undergraduates to embrace its current loan scheme
- Legit.ng reports that NELFUND is a financial institution established under the student loans (access to higher education)
- The initiative was signed into law by President Bola Tinubu in April 2024, an action authorities said marked a significant step towards ensuring sustainable higher education
FCT, Abuja - Akintunde Sawyerr, the managing director (MD) of the Nigerian Education Loan Fund (NELFUND), has called on students to take full advantage of the NELFUND student loan scheme.
Legit.ng reports that the NELFUND boss made this appeal during a student loan sensitisation programme organised by the National Association of Nigerian Students (NANS) in Port Harcourt, Rivers state, on Thursday, August 22.
Sawyerr described the scheme as a historic initiative aimed at making higher education accessible to all, regardless of financial background.
In his address, the NELFUND MD spoke about the scheme’s 'alignment' with President Bola Tinubu’s commitment to education. According to him, this is a cornerstone of national development.
He highlighted that the loan scheme is not just a financial assistance but an investment in the future of Nigerian students, allowing them to pursue higher education without the burden of financial constraints.
His words:
“The NELFUND student loan scheme was conceived to ensure that every Nigerian student can access higher education without financial hindrance.
“This initiative is a testament to President Tinubu’s vision of empowering the youth to become the architects of our nation’s future.”
Details of NELFUND student loan
Furthermore, Sawyerr provided details on the loan scheme, explaining that it covers both tuition fees and living expenses, with repayment terms designed to be fair and manageable.
He also assured students that loan repayment would only begin two years post-National Youth Service Corps (NYSC), provided they have secured employment or started a business.
Read more on NELFUND
- Nigerian students to get more funding as NELFUND confirms receiving N50bn from EFCC
- Student loan: UI announces refund of fees after NELFUND paid for 1,370 students
- Student loan: Did EFCC "donate" N50 billion to NELFUND? Fresh facts emerge
NELFUND's disbursements
Earlier, Legit.ng reported that NELFUND disbursed funds to 19 tertiary institutions across the country.
It paid out N2.94 billion as school fees for 27,667 students who have completed the priority checks.
.. Source: Legit.ng
