Mirian Gom 
ABUJA, Nigeria – The Nigerian Education Loan Fund (NELFUND) has clarified that its interest-free student loans are voluntary, stressing that eligible students are not required to borrow if they can afford their education.
In a statement issued in Abuja on Wednesday, the fund’s Director of Strategic Communications, Mrs Oseyemi Oluwatuyi, said the scheme was designed to help students overcome financial barriers to higher education, not compel them to take loans.
“NELFUND’s objective is not to encourage every student to borrow, but to ensure that every eligible Nigerian student who genuinely needs financial assistance has the opportunity to access it,” the statement said. “The student loan scheme is a support mechanism, not an obligation.”
The fund urged students to assess their financial circumstances and apply only if they need assistance. It also called on tertiary institutions, student leaders and other stakeholders to provide accurate information about the scheme and its requirements.
NELFUND emphasised that although the loans are interest-free, beneficiaries must repay them in accordance with the provisions of the Student Loans Act. The fund said the scheme aims to promote equal access to education by ensuring that financial hardship does not prevent eligible students from pursuing higher education.
It advised prospective applicants to understand the terms and conditions before applying and make informed decisions without pressure or misinformation.
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Korede Abdullah 
