NELFUND May Extend Student Loan Scheme to Private Institutions in Three Years

The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr Akintunde Sawyerr, says the agency may extend its student loan scheme to private institutions within the next three years.

During a sensitisation campaign with heads of institutions and stakeholders in Enugu on Thursday, Sawyerr said: “We have only been going for one year. We need to address the public sector first. These loans allow students to otherwise drop out for minimal amounts of money.”

He explained that students in public institutions are often more vulnerable and lack the financial options available to their counterparts in private schools.

Sawyerr said most students in public institutions do not have the option of attending private schools and are at risk of dropping out, which is why the fund is focused on supporting them first. He added that after about two or three years, the agency would assess the scheme’s impact and consider extending it to private institutions.

On challenges facing the fund, Sawyerr noted: “They just have a normal problem like everybody else has with technology, and then they say, this has been rigged against us. Nevertheless, we are here. We are not here to waste our time. We are here to help the people apply and get institutions to participate.”

Also, the Special Adviser to the Enugu State Governor on Education Innovation, Dr Chinyere Onyeisi, said: “So what the government is doing has an essential role to play in different areas of education. However, this NELFund has to do with the student support system. Furthermore, our students in Southeast and Enugu in particular need to maximise the opportunity to apply.”

She urged education administrators to decrease sensitisation efforts to the student level.

“Because the major takeaway for the teachers, the heads of institutions that are here today, is when they go back to their various schools, they are supposed to continue to step down the specialisation programme to make sure that the students understand the procedures, how to apply, and then apply effectively to benefit from this initiative. Because it is real. Moreover, they are testifying that other states are already benefiting,” she said.