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Nigeria’s Student Loan scheme gains momentum, expansion plans underway

 

FAVOUR ISHEMBER, Abuja

 

The Executive Director of the Nigerian Higher Education Support Fund (NELFUND), Dr. Bola Adeyemo, has hinted that the organization might expand its student financing program to private schools within the next few years.

 

Adeyemo made this known during a stakeholder engagement and awareness campaign with university administrators and other key players in Enugu.

 

The awareness campaign, which included local languages to facilitate understanding, aims to encourage people in the region to participate in the program.

 

While prioritizing the urgent needs of students in public institutions, Adeyemo noted that the long-term objective is to ensure all Nigerian students, regardless of the type of institution they attend, have access to financial assistance for their education.

 

“We’re just starting out, and our primary focus is on the public sector,” Adeyemo explained.

 

“These loans enable students to continue their education who might otherwise drop out due to financial constraints. Once we’ve made significant progress in the public sector, we can reassess and consider expanding to the private sector.”

 

Adeyemo identified common challenges facing the fund, including misconceptions, misinformation, and technological issues.

 

“Some people are hesitant due to concerns about the program’s effectiveness or fear that it’s not designed for them,” she said. “However, we’re committed to helping students and institutions navigate the application process.”

 

On his part, the Special Adviser to the Enugu State Governor on Education Innovation, Prof. Nnenna Okoro, emphasized the importance of the student loan program, noting that education is a vast field requiring significant attention.

 

“This initiative plays a vital role in supporting students,” Okoro said. “We encourage students in the Southeast, particularly in Enugu, to take advantage of this opportunity and apply for the loan.”

 

Okoro urged heads of institutions to disseminate information about the program to their students, ensuring they understand the application process and can benefit from the initiative.

 

“This program is real, and students from other states are already benefiting,” she said.

 

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