The Federal Government (FG) has confirmed that students enrolled in state-owned universities and colleges will be included in the national student loan scheme.
This expansion comes three weeks after the program’s launch, which initially only catered to students in federal institutions.
The news was delivered by the Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, during a press briefing in Abuja, on Thursday.
This decision signifies a broader governmental effort to improve access to higher education financing. The program, established under the Access to Higher Education Act signed by President Bola Tinubu in June 2023, offers interest-free loans to qualified students pursuing degrees at accredited tertiary institutions across Nigeria.
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Previously, concerns arose regarding the scheme’s initial limitation to federal institutions. Critics argued that excluding students in state universities and colleges would disproportionately disadvantage students from potentially less resourced regions where such institutions are more prevalent.
The FG’s expansion aims to address these concerns and ensure wider inclusivity. It’s important to note that specific details regarding the application process for state institutions haven’t been announced yet. However, Mr. Sawyerr did acknowledge that the NELFUND website has received significant traffic since its launch, with over 60,000 visitors reported.
This expansion of the student loan scheme holds the potential to significantly impact access to higher education in Nigeria. The coming weeks will be crucial as details regarding the application process for state institutions are unveiled.
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