NELFUND to focus more on two categories of students in 2024/2025

By | December 25, 2024
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Last Updated on December 25, 2024 by Timileyin Awogbade

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 

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.

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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.

Timileyin Awogbade

Timileyin Awogbade is a journalist, seasoned copywriter, expert editor, and experienced content creator at Dailylight Channel with over 5 years of experience in writing, content strategy, and SEO.


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