Student Loan Alert: NELFUND Urges South-South & South-East Students to Apply Now!
In keeping with the government’s goal of expanding access to higher education in the nation, the Nigerian Education Loan Fund (NELFUND) has called on the South-South and South-East areas to participate more in the student loan program.
The call was made on Monday in Abuja during a technical workshop and stakeholder engagement session on system automation and the loan application process by Akintunde Sawyerr, NELFUND’s managing director.
In contrast to other regions of the nation, he noticed a discrepancy in applications.
Universities kicked off the three-day event Monday, and tomorrow it will move on to polytechnics, monotechnics, and institutes. Colleges of education, agriculture, health, and nursing will be represented on the seventh day, which is the last day.
The meeting marks a significant turning point in the group’s efforts to provide a fully digital, transparent, and student-centered financial aid system for higher education in Nigeria, according to the NELFUND MD.
He underlined that the fund is managing government and public funds and that no payout would be hurried in response to reports that it was rewarding students who had already graduated.
“We must follow our procedures. It is the responsibility of the individual to go to school and request a refund if they have already paid their fees for their last year, and we have covered their tuition.
People applied in their final year; therefore, it’s not fair to complain that you’ve already graduated and left.
You must go through a procedure that enables us to verify that they are the ones applying and that they are in need of it. Let me reiterate this idea regarding delays.
The goal of the gathering, he said, is to have an impact on how the platform develops and how real-world issues that both students and institutions encounter are resolved.
According to Ifeoluwa Ehindero, chairman of the House Committee on Student Loans, Scholarships, and Higher Education Financing, modernizing and streamlining the way monies are recorded, handled, and distributed to worthy students is necessary for the system to be genuinely effective.
He claims that the goal of automating and improving the NELFUND system is to make the loan application, approval, and distribution processes more responsive, transparent, and efficient.
“This is crucial to the initiative’s success and will help guarantee that our pupils gain in a timely and responsible way.
“We have been putting in a lot of effort as members of the House of Representatives Committee on Student Loans to make sure that the legislative framework encourages and makes these improvements possible. But legislative action is insufficient on its own.
“To ensure that we have a system that works for everyone—from the students seeking loans to the institutions administering the funds—we need your knowledge, your input, and your active engagement.
“This course offers a collaborative opportunity in addition to a teaching platform. Your suggestions on how to make the NELFUND system work better as you use it will be very helpful to us as we adapt and develop it to our institutions’ and students’ needs.
Earlier in his presentation, Mr. Iyal Mustapha, the Executive Director of Operations at NELFUND, revealed that more than 576,058 pupils had signed up, with a total application value of N170,437,179,836.
Additionally, he called on South-South and South-East institutions to increase their efforts to raise awareness about timely loan applications.
Lawal Mohammed Faruk, a representative of the National Universities Commission (NUC), stated that NELFUND is among the federal government’s top initiatives.
“One day, we hope to see NELFUND onboard all of the students in the nation, whether they are private or public,” he stated.
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