The Nigerian Education Loan Fund (NELFUND) has urged students in the South-South and South-East regions to increase their participation in the student loan scheme, citing a noticeable disparity in applications compared to other parts of the country.
Speaking at a stakeholders’ engagement session in Abuja, Managing Director Akintunde Sawyerr emphasized the importance of digitizing and streamlining the loan application process to ensure transparency and efficiency. The three-day event, which began with universities, will continue with polytechnics, monotechnics, and institutes, concluding with colleges of education, agriculture, health, and nursing.
Addressing concerns about loan disbursement delays, Sawyerr clarified that NELFUND follows strict verification processes to ensure funds are allocated correctly. He dismissed claims that loans were paid to graduates, explaining that final-year students who applied before graduation remain eligible under the system’s safeguards.
Ifeoluwa Ehindero, Chairman of the House Committee on Students Loan, Scholarships, and Higher Education Financing, stressed the need to modernize and optimize the loan system to create a more transparent and responsive process. He called for collaboration and feedback from stakeholders to refine the platform and ensure students benefit in a timely and accountable manner.
Meanwhile, Executive Director of Operations, Iyal Mustapha, revealed that over 576,058 students have registered for the scheme, with a total application value of ₦170.4 billion.
NELFUND continues to encourage students and institutions in the South-South and South-East to take advantage of the loan program, ensuring equal access to financial aid across all regions.
AT Reporter
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