The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyer, has affirmed that eligible Nigerian students do not require any form of personal connection to access student loans under the newly launched national student loan scheme.
Speaking at a sensitization event held at Ahmadu Bello University (ABU), Zaria, Sawyer stated that the application process is open and transparent for all qualified candidates. According to him, the only requirements for access are enrollment in an accredited institution and a valid Joint Admissions and Matriculation Board (JAMB) registration number.
Delivering a presentation titled “Understanding the NELFUND Student Loan Scheme: Access, Application and Support,” Sawyer emphasized that the loan is entirely interest-free. He explained that repayment begins only when the beneficiary secures employment, starting from two years after completing the mandatory National Youth Service Corps (NYSC) programme.
“In the unfortunate event of death, the loan is written off. Similarly, if the beneficiary remains unemployed five years after NYSC, the loan is also forgiven,” he noted. For employed graduates, 10% of their monthly salary will be deducted by their employer and remitted to NELFUND. If the borrower loses their job before completing repayment, deductions will pause and resume once employment is regained.
Sawyer urged students to register on the NELFUND platform, even if they do not immediately plan to apply, noting that financial circumstances may change over time. He also expressed appreciation to President Bola Ahmed Tinubu for establishing NELFUND, describing him as a staunch advocate for education and youth empowerment.
“The President’s vision is that no Nigerian student is left behind in accessing tertiary education,” he said.
In his remarks, the Vice-Chancellor of Ahmadu Bello University, Prof. Adamu Ahmed, represented by the Deputy Vice-Chancellor (Advancement, Research and Innovation), Prof. Sanusi Aliyu Rafindadi, praised the loan scheme as a transformative initiative for tertiary education in Nigeria. He pledged the university’s full support and commitment to its implementation.
Other university officials in attendance included the Dean of Student Affairs, Prof. Sahalu B. Junaidu; Hajiya Basira Raji representing the Registrar; Assistant Dean (Student Affairs, Female), Prof. Hadiza Tukur; and Acting Staff Officer of the Division, Malam Jamilu Wada.
The event forms part of a national sensitization campaign by NELFUND to raise awareness about the student loan scheme, launched in 2023 as a flagship initiative under the Renewed Hope Agenda of the Tinubu administration. The scheme aims to make tertiary education accessible to all eligible Nigerian students, regardless of socioeconomic background.
