The Managing Director of the Nigerian Education Loan Fund (NELFUND), Dr Akintunde Sawyerr, has urged students across Nigeria’s North-Central zone to take advantage of the Federal Government’s student loan scheme, saying financial difficulties should not prevent qualified young Nigerians from pursuing higher education.
Sawyerr made the call on Friday at the Federal University of Lafia, Nasarawa State, during the Renewed Hope Students Leaders Engagement and Digital Acceleration Programme for the North-Central zone. The engagement was aimed at increasing students’ awareness of the loan scheme and providing information on how eligible applicants can access the facility.
The NELFUND chief executive disclosed that more than one million applications had been received under the scheme, while about 850,000 individual Nigerians had benefited from student loans, with approximately ₦303 billion disbursed within two years, according to figures he presented at the programme.
He said the initiative was designed to address one of the major barriers to tertiary education in Nigeria—the inability of students and their families to meet the financial requirements associated with higher education.
Sawyerr explained that students from low-income households should not abandon their academic ambitions simply because their parents or guardians cannot afford the cost of tertiary education. He said the Federal Government established NELFUND to provide qualified students with financial assistance so that economic circumstances would not determine who gains access to higher education.
The NELFUND boss specifically encouraged students in the North-Central states to make greater use of the scheme, noting that the application process had been designed to reduce the influence of personal connections and make access dependent on eligibility.
He said applicants do not need to know government officials or NELFUND personnel personally to obtain the facility, as applications are processed through a digital system.
According to him, prospective beneficiaries are required to provide information that establishes their identity and eligibility, including their name, Bank Verification Number, matriculation number, JAMB registration number and date of birth, while also ensuring that they are enrolled in an approved government tertiary institution.
The emphasis on digital applications is intended to make the process more transparent and accessible to students regardless of their geographical location or social connections.
The development is particularly relevant to students in the North-Central region, where the cost of tuition, accommodation, transportation, learning materials and daily upkeep can constitute significant financial pressures for families.
The student loan scheme, however, is not a grant. NELFUND has previously clarified that the facility is a repayable, interest-free loan, designed to provide financial assistance during students’ academic programmes while allowing beneficiaries to repay under the conditions established by the scheme.
NELFUND’s wider sensitisation campaign has sought to address misconceptions surrounding the programme and increase awareness among prospective beneficiaries. The agency has used zonal engagements to reach students, parents, education administrators and student representatives across the country.
Earlier in June, NELFUND said approximately 1.6 million Nigerians had benefited from the scheme and announced an ambition to increase the number of direct beneficiaries to seven million as the programme expands to additional areas, including skills acquisition and Technical and Vocational Education and Training.
The figures demonstrate both the scale of demand for education financing and the challenge of ensuring that eligible students are sufficiently informed about the opportunity.
For many undergraduates, financial difficulties can affect their ability to remain in school, pay institutional charges, obtain textbooks and other learning materials, or meet basic living expenses. A functioning student financing system can therefore influence not only access to university and other tertiary institutions but also students’ ability to remain enrolled until graduation.
The Federal Government’s student loan initiative is consequently becoming an increasingly important component of Nigeria’s higher education financing framework, particularly as public universities, polytechnics and colleges of education accommodate students from households with widely differing financial circumstances.
NELFUND’s official platform provides information on the student loan initiative, eligibility and application processes, with the agency describing the programme as an intervention intended to remove financial barriers to higher education.
Sawyerr also acknowledged the contribution of the Senior Special Assistant to the President on Student Engagement, Comrade Asefon Sunday, to efforts aimed at connecting students with the Federal Government’s education financing programme.
For students across the North-Central zone, the latest sensitisation therefore represents an opportunity to obtain clearer information about eligibility and application requirements rather than relying on informal channels or intermediaries.
As NELFUND continues its nationwide expansion, the effectiveness of the scheme will depend not only on the volume of funds disbursed but also on students’ awareness of the programme, the accessibility of the application process, timely processing and the ability of beneficiaries to understand their repayment obligations after graduation.
