….seeks partnership with Ondo Gov’t
Managing Director and Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND) initiative, Mr Akintunde Sawyer has clarified that students of educational institutions in the country don’t need connections to access the Federal government student loan.
The NELFUND MD made this assertion yesterday when he paid a visit to the Ondo State Governor, Dr Lucky Orimisan Aiyedatiwa.
Speaking, the NELFUND MD explained that the scheme was designed to provide interest-free loans to young Nigerians in response to the country’s large youth population and low access to tertiary education.
Sawyerr said applications are made online without the need for personal connections, adding that institutional fees are paid directly to schools, while beneficiaries also receive stipends.
He noted that repayment would begin two years after the completion of NYSC through income-based deductions, stressing that the scheme is non-punitive.
He added that the agency was seeking the support of the Ondo State Government to boost confidence and participation, adding that a progress report had been presented to the governor for appraisal and feedback.
In his remarks, the Ondo State Governor, Dr Lucky Orimisan Aiyedatiwa expressed strong support for the Nigerian Education Loan Fund (NELFUND) initiative, pledging that his administration would mobilise students across the state to take full advantage of the interest-free loan scheme.
Commending President Bola Ahmed Tinubu for initiating the scheme, the Governor described the education loan as a historic intervention and the first of its kind in Nigeria. He said the initiative complemented existing bursaries and scholarships by providing an additional platform for students to finance their education.
According to him, while bursaries and scholarships were free grants that required no repayment, the loan scheme addressed extra fees and financial gaps, ensuring that no Nigerian youth is denied access to university education due to poverty or lack of support.
“You can no longer say your parents are poor or that nobody is helping you. The government has created a platform for everyone to have access to a university degree,” he said.
