Student loan for all public institutions – NELFUND

The management of the Nigerian Education Loan Fund (NELFUND) has described reports that the student loan programme is exclusive to federal institutions as false and misleading.

NELFUND clarified in a Tuesday statement titled, “Clarification: State Institutions Included in Student Loan Programme” that the narrative pushed across social media is incorrect.

PUNCH Online reports that this new position corroborated what the Managing Director/Chief Executive Officer of the Fund, Akintinde Sawyerr, said on Monday at a Pre-Application Sensitisation Press Conference in Abuja.

He noted that the first batch will be for students in federal schools and the next for state schools.

“The loan application process has been streamlined to ensure easy access for all eligible students in federal tertiary institutions,” he had said.

However, in the new statement, signed by the Media and Public Relations Lead for Nigerian Education Loan Fund, Nasir Ayitogo, NELFUND confirmed clearly that state schools’ students would also benefit.

“State institutions are unequivocally by law included in our student loan programme. The programme is designed to roll out in phases to ensure effective and efficient management of the process.

“The first phase for a start will focus on students attending federal institutions.

“The second phase, which will be launched shortly after the initial rollout, will extend the programme to students at state institutions.

“NELFUND is fully committed to providing financial support to all eligible students, regardless of whether they attend Federal or State tertiary public institutions,” the statement read.

The mission of President Bola Ahmed Tinubu’s Renewed Hope Agenda is to ensure that all desirous students have access to the financial resources necessary to pursue their educational goals and aspirations, NELFUND posited.

PUNCH Online reports that NELFUND is a pivotal financial institution established under the Student Loans Act, 2024.