The Nigeria Education Loan Fund (NELFUND) has engaged thousands of students at the University of Nigeria, Nsukka (UNN), and Nnamdi Azikiwe University (UNIZIK) as part of its enlightenment and advocacy efforts in these institutions.
According to NELFUND, it observed that many students felt left out of this noble financial intervention program for students. This led to the decision to reach out to them with relevant information about the recently established student loan scheme being implemented by NELFUND.
NELFUND’s Managing Director, Akintunde Sawyyer, led senior officials of NELFUND in the sensitization engagement with the students. The National President of NANS, Comrade Lucky Emonefe, and other officials participated in the advocacy. The Special Assistant to the President on Community Engagement (South East), Chioma Nweze, also provided resources and support for the initiative.
Sawyyer expressed concern about the low participation of students from the South East in the initiative and took the opportunity to expose students to the benefits of the scheme, particularly in reducing the financial burden on them and their parents.
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Speaking to students at UNN, the NELFUND director explained that the student loan scheme was established by President Bola Ahmed Tinubu to provide affordable funds to indigent students, ensuring that no student is denied access to tertiary education due to financial constraints.
He guided them through the application process and encouraged them to visit the NELFUND website, which is user-friendly, for more information and to submit their applications. He emphasized the importance of accuracy in their submissions to avoid unsuccessful applications.
He said: “We came here for this interactive session because of President Tinubu’s interest in your future, which can become brighter and better with quality and affordable education added to the knowledge you already have.”
Sawyyer also assured the students that the loan is interest-free and intended for anyone seeking tertiary education. He explained that repayment is not as difficult as they might think. “Beneficiaries are expected to begin repayment two years after completing NYSC, but that can be extended if they face delays in securing a job.”
At Nnamdi Azikiwe University (NAU), Awka, also known as UNIZIK, Sawyyer dispelled concerns that the student loan was a trap set by the government to mortgage their future.
“This is false information that should be completely disregarded. The student loan was conceived to alleviate the financial burden on parents and students. The process is straightforward, and the repayment system is not stressful or overwhelming.
“Let me assure you that no one will call, text, or harass you about the loan. You can repay the loan at your own pace without any form of harassment. If you secure a job after NYSC, you can start repayment immediately.
“But if you venture into private business or self-employment, you will be expected to remit 10 percent of your profit as loan repayment. This ensures that others have enough funds to access for their education. Please save your parents the stress and apply for the loan. There are also monthly stipends available for your upkeep.”
UNN Acting Vice Chancellor, Prof. Romanus Ezeokonkwo, expressed gratitude to NELFUND for the intervention and assured maximum support, promising further mobilization and sensitization of students on the student loan scheme and its benefits.
Benedict Soludo, the Special Assistant to the Anambra State Governor on Student Affairs, commended the President for the initiative and pledged to continue sensitizing and mobilizing students to access the loan.
He also suggested an interactive engagement with parents and traditional rulers on the matter, so they can be encouraged to allow their children to participate in the scheme, thereby easing the financial burden and making funds available for other needs.
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