The Nigerian Education Loan Fund (NELFUND) has called on student leaders across tertiary institutions to take ownership of the newly introduced interest-free education loan scheme.
Speaking during a stakeholders’ engagement session and technical workshop on NELFUND system automation and loan application processes in Abuja, the Executive Director of Operations, Iyal Mustapha, encourages student leaders to champion the initiative on their campuses.
He cautions tertiary institutions against delays in processing student applications, noting that once applications are verified, they are forwarded to institutions for confirmation, a step that has, in some cases, caused disbursement delays due to slow responses. Mustapha reiterates that the NELFUND scheme was designed to reduce student dropout rates caused by financial hardship.
President of the National Association of Nigerian Students (NANS), Olushola Oladoja, Warns institutions and individuals allegedly sabotaging the Federal Government’s student loan programme. Addressing reports of delay and non-compliance, Oladoja reveals that NANS had constituted a five-member investigative committee to probe concerns surrounding loan disbursement and institutional accountability.
Despite the concerns, the student body commended the loan scheme for its transparency, inclusivity, and commitment to accountability.
