NELFUND Urges Students to Embrace Loan Scheme, Reaffirms Commitment to Transparency and Accessibility

The Nigerian Education Loan Fund (NELFUND) has urged Nigerian students to fully utilize the NELFUND Student Loan Scheme, describing it as a groundbreaking initiative aimed at making higher education accessible regardless of financial status.

This appeal was made by Mr. Akintunde Sawyerr, Managing Director/CEO of NELFUND, during a Student Loan Sensitization Program organized by the National Association of Nigerian Students (NANS) on Saturday.

Sawyerr highlighted that the loan scheme aligns with President Bola Ahmed Tinubu’s commitment to education as a critical element of national development. He emphasized that the scheme represents an investment in students' futures, removing financial barriers to higher education.

“The NELFUND Student Loan Scheme was created to ensure that every Nigerian student can access higher education without financial constraints,” Sawyerr said. “This initiative reflects President Tinubu’s vision of empowering youth to shape the future of our nation.”

The loan scheme covers tuition fees and living expenses, with repayment terms designed to be manageable. Sawyerr noted that repayment begins two years after the National Youth Service Corps (NYSC), contingent upon securing employment or starting a business. He acknowledged issues with loan disbursement delays but assured improvements were underway and encouraged students to complete their applications accurately to avoid further delays.

Sawyerr commended NANS and other student unions for their role in shaping the loan scheme and urged continued feedback to enhance the initiative. He reiterated NELFUND’s commitment to transparency and accountability, emphasizing that every eligible student should benefit from the scheme.

The sensitization program, which included remarks from Rivers State Governor Sim Fubara, was part of NELFUND’s ongoing efforts to educate students about the loan scheme and address their concerns directly.