 may soon expand its student loan initiative to private universities and colleges){kind=link}
The Nigerian Education Loan Fund (NELFUND) may soon expand its student loan initiative to private universities and colleges, with a potential rollout expected within the next two to three years.
This was disclosed by the Managing Director, Mr. Akintunde Sawyerr, during a community outreach and engagement campaign held in Enugu on Thursday.
The awareness programme included translations into local dialects to improve understanding and encourage local participation.
Sawyerr emphasised that the immediate concern of NELFUND is to tackle financial barriers faced by students in public institutions.
“Many of them have no other options. Some are even dropping out. We need to stabilise the public sector first before shifting our attention to private schools,” he explained.
He projected that within a few years, after observing the impact of the current initiative on the Nigerian youth population, a reassessment would be made to potentially accommodate private sector students.
Addressing misconceptions about the loan scheme, Sawyerr said the most common issues stem from confusion and a lack of awareness.
“Some people think it’s a scam or that the system is rigged against them. But we’re here to guide them, resolve tech-related problems, and get schools involved in supporting applications,” he assured.
Dr. Chinyere Onyeisi, Special Adviser on Education Innovation to the Enugu State Governor, highlighted the significance of NELFUND in broadening educational access.
She urged teachers and institutional leaders present to spread the information to ensure that students understand and utilise the opportunity.
“This is a genuine initiative. Teachers must return to their schools and pass this knowledge to students so they can apply it properly. Many other states are already seeing the benefits,” she said.