The Nigerian Education Loan Fund (NELFUND) has clarified the eligibility requirements for its student loan program, emphasizing that postgraduate students are currently not eligible to apply for the facility.
According to Akintunde Sawyerr, Managing Director of NELFUND, the scheme is designed to support students pursuing their first degree, aligning with President Bola Tinubu’s directive to expand access to education without favoritism or undue influence.
“The way the President has set this up and the way he has insisted that this must work is that you don’t need to know anybody to access this loan,” Sawyerr stated during an interview on TVC’s Breakfast Saturday. “No connections, no long leg, no man-know-man. We are not going to allow it to happen. The President wants us to completely democratize education.”
Focus on First-Time Undergraduates
Sawyerr explained that while postgraduate students are currently excluded, there are plans to expand the program to include them in the future.
“Post-graduate students can’t apply for this loan. We have a lot of people in this country who are just trying to get on the first rung of the ladder as far as tertiary education is concerned. The funds we have are focused on those people who are looking for their first opportunity,” he said.
Sawyerr acknowledged the achievements of students pursuing master’s and doctoral degrees, adding that while postgraduate support is not yet available, it remains a future consideration.
“At some point in the future, we will be able to fund them. Today, we are looking for those who need us most. They are the people we want to support,” he emphasized.
Growing Student Participation
Since the loan scheme’s launch in May 2024, over 271,000 Nigerian students have benefited from the initiative, receiving funding for tuition fees and other essential expenses.
“In total, to date, we have about 271,000 Nigerian students who have either had their fees paid or their fees plus upkeep,” Sawyerr revealed.
Out of 521,000 students who registered for the program, approximately 438,000 have submitted their applications, reflecting strong interest and participation.
Commitment to Education Access
NELFUND’s priority is to ensure that no student is forced to drop out of tertiary education due to financial constraints. While the current focus remains on undergraduates, Sawyerr reassured that future adjustments would be considered based on available resources and policy direction.
The initiative continues to gain trust among students, with Sawyerr crediting President Tinubu’s efforts to restore faith in government programs.
“Nigerian students are reacting extremely positively to the initiative. And as more disbursements happen, they are becoming more trusting. One of the interesting things going on at the moment is that President Bola Tinubu is restoring trust in the government,” Sawyerr concluded.