By Felix Khanoba
The Nigerian Education Loan Fund (NELFUND) has urged student leaders across tertiary institutions in the country to take active responsibility in promoting the federal government’s interest-free student loan scheme.
Speaking at a Stakeholders Engagement Session and Technical Workshop in Abuja on Thursday, NELFUND’s Managing Director/Chief Executive, Mr. Akintunde Sawyerr, called on student union presidents and members of the National Association of Nigerian Students (NANS) to support the initiative and ensure its effective implementation across campuses.
Sawyerr reiterated NELFUND’s commitment to breaking down financial barriers in education and providing equal opportunities for all Nigerian students.
“To make this work, we need you. Your voice. Your leadership. Your engagement on campus. Help us raise awareness, refine our processes, and ensure that this scheme reaches every student it was designed to serve,” he said.
He noted that the scheme aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes inclusivity, empowerment, and education as a national development goal.
Also speaking at the session, NELFUND’s Executive Director of Operations, Iyal Mustapha, cautioned institutions against delays in verifying student applications—a step that he said has hindered timely loan disbursement.
“We need your schools to respond quickly. If they don’t confirm your status, we can’t release the funds.
“You must be involved in making sure your institutions do the right thing.
“This is your opportunity, we are the youth, and we are here to support you. This loan is about removing barriers so you can focus on your education.
“There is no interest, no guarantor, and no harassment, just commitment to learning,” he said.
Mustapha stressed that the loan is designed to combat student dropouts caused by financial hardship. It covers institutional charges and includes monthly upkeep support.
“There is no reason for anyone to drop out of school,” he emphasised.
He also assured students that repayment would begin only two years after completing the National Youth Service Corps (NYSC) and only if the beneficiary is gainfully employed. In cases of death or confirmed permanent disability, the loan would be waived.
“No one is chasing you. This is your loan. This is your government. And your repayment helps the next generation,” he said.
Mustapha also addressed cases where some students received upkeep allowances without being notified that their institutional fees had been paid, urging them to verify such payments with their schools.
“One of the thing we realised is that some of the institutions are not notifying the students of payment.
“Anyone that have gotten upkeep, it’s important to know that his/her institutional charges has been paid to the institutions already,” he explained.
Meanwhile, NANS President, Olushola Oladoja, expressed concern over reports of institutions and individuals allegedly undermining the loan program.
Oladoja said the association had launched an internal investigation to uncover any acts of sabotage.
“We got information that there are issues in NELFUND—cases where the fund claims to have paid institutions, but schools failed to notify the students.
“This cannot be allowed to continue. Our committee will engage NELFUND directly, we will visit the Independent Corrupt Practices Commission (ICPC) to verify their findings, and we will get to the bottom of this,” he said.
Umar Lawal, a final-year student of Bayero University, Kano, commended President Tinubu for fulfilling his pledge on student loans, describing the scheme as a transformative step for higher education.
While acknowledging the benefits, Lawal also highlighted the need for greater accountability among tertiary institutions to ensure transparency in the loan disbursement process.
