NELFUND: We'll focus more on two categories of students 2024/2025 academic session

byPsalmist Timmy -
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Akintunde Saywerr, NELFUND Student Loan Managing Director

The Managing Director of the Nigerian Loan Education Fund (NELFUND) has announced that the NELFUND student loan program will prioritize two major categories of students in the incoming session. 

First, those studying courses that are geared towards boosting Nigeria's development as a nation. The second set of students are those in the 300 levels and 400 levels who may be on the verge of dropping out.

READ ALSO: Uniosun mandates all new students to apply for student loans - SEE WHY 

The Nigeria Education Loan Fund has announced the Federal Government's plans to limit interest-free student loans to courses important to Nigeria's development.


Akintunde Sawyerr, Managing Director of NELFUND, said this at The Renewed Hope Global's "Student Loan Masterclass: Why, What, and How?" virtual conference.

  

Sawyerr noted that the effort prioritizes loans for students studying courses that coincide with the nation's developmental goals rather than those in disciplines with limited career chances and poor payback potential.

"At the moment, all courses are treated the same because we are providing loans to students already in 300 and 400 levels who may be on the verge of dropping out," Sawyerr said.

He went on to say, "However, it is recognized that some courses are more important to Nigeria's growth. Engineering and medicine are more relevant to national growth than other disciplines.


He stated that the student loan initiative has already benefited about 335,000 students from 127 tertiary institutions.

Sawyerr stated that the recommended emphasis on priority courses is not intended to dismiss other professions but rather to address the pressing requirements of a developing country.

  

"This is not to say that we will not fund other courses, particularly those that provide students with skills that can be exported to other countries."
Such individuals could help the Nigerian economy by remitting monies home," he said.
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Psalmist Timmy

Psalmist Timmy is an internet entrepreneur with expertise in digital marketing, copywriting, e-commerce management, and web development. He has successfully launched and scaled multiple online ventures using his skills in SEO, content marketing, social media, and email marketing. In 2023, he was recognized as a valued and expert content writer by one of the esteemed lecturers in the STE Department, Dr. Olasunkanmi, University of Ibadan (First and the Best), and was honored to give a co-lecture presentation to his fellow students on a topic tagged "Online Content Authoring. Connect with him below." youtube linkedin instagram facebook twitter

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