The National Assembly and the Nigerian Education Loan Fund (NELFUND) have intensified efforts to significantly expand access to the Federal Government’s student loan programme, with plans to increase the number of beneficiaries to seven million students across the country.
The initiative is aimed at ensuring that more Nigerian students in tertiary institutions can access financial support for tuition and upkeep, thereby reducing the burden of educational expenses on families and improving access to higher education.
Officials of NELFUND disclosed that the expansion drive follows the growing demand for student loans and the positive response recorded since the scheme commenced. The agency noted that increasing the beneficiary base aligns with the Federal Government’s commitment to making tertiary education more accessible and affordable for all qualified students.
The National Assembly, through its relevant committees, pledged continued legislative support to strengthen the scheme, improve funding mechanisms, and ensure transparency in the disbursement process.
Stakeholders believe the planned expansion will contribute to higher enrollment rates in tertiary institutions, reduce dropout cases linked to financial difficulties, and support the development of a skilled workforce needed for national growth.
NELFUND also reaffirmed its commitment to efficient loan administration, promising to leverage technology and partnerships with educational institutions to streamline applications and reach more students nationwide.
The student loan scheme remains one of the flagship education intervention programmes of the Federal Government, designed to provide interest-free financial assistance to eligible students pursuing higher education in Nigeria.