Fees and loans
NELFUND states student loans are voluntary
Find out why the loan fund insists that only students with genuine financial need should apply for the scheme.
The Nigerian Education Loan Fund has urged tertiary institution students to apply for student loans only when they genuinely need financial assistance. The fund stated that accessing the facility is voluntary and not compulsory. Oseyemi Oluwatuyi, the Director of Strategic Communications, released this statement in Abuja on Wednesday.
NELFUND explained that the scheme removes financial barriers to higher education so eligible students are not denied opportunities due to financial constraints. Students who can afford their educational expenses do not need to apply. The fund noted that making loans compulsory for everyone would contradict the purpose of supporting those who need help.
The interest-free facility aims to help beneficiaries overcome financial difficulties. However, NELFUND cautioned that the loans carry repayment obligations under the Student Loans Act. Applicants should understand the terms and conditions before applying.
Source: Nigerian Tribune.
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