Student Loan Would Not Cover Private Universities Students-NELFUND
Sawyer emphasized that the interest-free loan scheme aims to assist individuals with low income background who are predominantly found in public rather than private universities. He clarified that this approach is not intended to create bias but to support those who need it most.
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The Managing Director of NELFUND, Akintunde Sawyer, has announced the opening date for its portal to accept student loan applications, noting that the loans will only cover public institutions.
During an interview on the NELFUND sensitization program, he explained that the student loan portal, opening on May 24, will cater exclusively to students in public institutions, including federal and state universities. This clarification indicates that students in private institutions are not included as beneficiaries of the interest-free loan scheme.
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In a press statement signed by Nasir Ayitogo, the Media and Public Relations Lead, Sawyer disclosed that the application for student loans through the portal begins on May 24. The initiative is set to commence with 1.2 million beneficiaries, with funds being disbursed directly to the tertiary institutions of the benefiting students. Additionally, the students will be entitled to stipends paid directly to them.
Sawyer emphasized that the interest-free loan scheme aims to assist individuals with low income background who are predominantly found in public rather than private universities. He clarified that this approach is not intended to create bias but to support those who need it most. “This is not to imply that students in private universities don’t require financial assistance; however, at the initial stage, we are focusing on the most vulnerable segments of society, typically found in public institutions,” he stated.
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He further encouraged all eligible students to seize this opportunity to invest in their education and contribute to the nation’s growth and development.
