Student loan for all public institutions, says NELFUND

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

NELFUND clarified in a Tuesday statement titled “Clarification: State institutions included in the student loan program” that the narrative spread on 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 at a pre-application sensitization press conference in Abuja on Monday.

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

“The loan application process has been simplified to ensure easy access to all eligible students at federal colleges,” he said.

However, in the new statement, signed by the Media and Public Relations Officer of the Nigerian Education Loan Fund, Nasir Ayitogo, NELFUND clearly confirmed that public school students would also benefit.

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

“To start, the first phase will focus on students attending federal institutions.

“The second phase, which will be launched soon after the initial launch, will expand the program to students from state institutions.

“NELFUND is fully committed to providing financial support to all eligible students, regardless of whether they attend federal or state public tertiary 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 key financial institution established under the Student Loans Act 2024.