Student Loan Demand Overwhelming as NELFUND Expands Access to Higher Education

ABUJA, Nigeria – The Nigerian Education Loan Fund (NELFUND) says demand for the Federal Government’s student loan scheme has exceeded expectations, reflecting the growing financial challenges facing students in public tertiary institutions.

Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, disclosed this during an interview on Channels Television’s Sunday Politics, describing the scheme as a lifeline for thousands of students struggling to remain in school.

“The demand has been overwhelming because many students have struggled to gain admission and remain in school. This programme has become a rescue for them,” Sawyerr said.

According to him, NELFUND has so far disbursed about ₦162 billion in upkeep allowances and institutional fees to eligible students across public tertiary institutions.

Sawyerr said the intervention is also reshaping competition among higher institutions by giving students greater financial flexibility to enrol in schools of their choice without being constrained by tuition costs.

Responding to allegations that the scheme favours children of members of the All-Progressives Congress (APC), the NELFUND boss dismissed the claims as unfounded.

“The allegation is completely ridiculous. The system was designed without bias or political considerations. Beneficiaries are selected strictly based on established eligibility criteria,” he said.

He explained that the agency relies on verified institutional records and established assessment procedures to determine students who genuinely require financial support.

“As the repayment framework develops, beneficiaries will become increasingly traceable within the system,” he added.

Speaking on President Bola Tinubu’s announcement that recovered proceeds from the Economic and Financial Crimes Commission (EFCC) would support the student loan programme, Sawyerr clarified that NELFUND is yet to receive the funds.

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Mirian Gom

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Gom Mirian AHR Senior Correspondent, has over 8 years’ experience reporting on health, crime, education, investigations, and development issues across Nigeria and Africa. With dual degrees in Economics, she combines analytical skill with compelling storytelling. Widely recognised for her public health and humanitarian reporting, she earned a Nestlé Award nomination for compelling human-interest journalism. Follow her on Twitter @mirian_linus.

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