NELFUND: Student Loans Not Compulsory For Tertiary Institution Students
The Nigerian Education Loan Fund (NELFUND) has clarified that applying for student loans is voluntary, stressing that students in Nigerian tertiary institutions are not required to take out loans to pursue their education.
The fund said the scheme was designed to support students facing financial difficulties in meeting their educational expenses, urging eligible applicants to assess their financial needs before applying.
In a statement signed by its Director of Strategic Communications, Oseyemi Oluwatyui, NELFUND explained that compelling all students to access the loans, regardless of their financial circumstances, would defeat the initiative’s purpose of removing financial barriers to higher education.
According to the fund, the scheme is intended to provide financial assistance to students who genuinely need it, rather than encourage every student to borrow.
“NELFUND’s objective is not to encourage every student to borrow, but to ensure that every eligible Nigerian student who genuinely needs financial assistance has the opportunity to access it,” the statement said.
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