Edu News

Why we are not enthusiastic about students’ loan scheme — Undergraduates

Fadiran Ifeloluwa August 4, 2024

The air around the Student Loan Act, signed by President Bola Ahmed Tinubu, remains unclear with many Nigerian students and parents perplexed as to what the legislation stands to offer them. Some Nigerians appear to be concerned that, while the Student Loan Act appears to provide

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NELFund disburses over N1.1 billion loans to 20,000 beneficiary students

Fadiran Ifeloluwa August 1, 2024

The Nigerian Education Loan Fund (NELFUND) said Monday that it has disbursed a total of N1.17 billion to 20,000 students across five of the country’s public tertiary institutions. Akintunde Sawyerr, Managing Director of NELFUND, announced this during a news conference in Abuja, saying one more institution would be added before the end of the day, […]

Edu News

Tinubu launches student loan, says education is key to fighting poverty

Fadiran Ifeloluwa July 18, 2024

On Wednesday in Abuja, President Bola Tinubu delivered cheques to the first batch of recipients of the Nigerian Education Loan Fund (NELFUND), also known as the student loan scheme. The president stated that the student loan was critical to combating poverty, aligned with his administration’s commitment to inclusivity, and guaranteed adequate money to sustain the

Edu News

126 federal institutions approved for student loans (Full List)

Fadiran Ifeloluwa May 27, 2024

The student loan scheme started on Friday after multiple delays. However, just 126 federal institutions will benefit from the first phase of the initiative, which aims to make education more accessible to indigent students. According to the Nigerian Education Loan Fund (NELFUND), the first phase would target 1.2 million students from federal-government-owned universities,

Edu News

Jim Ovia has been appointed to chair the Nigerian Education Loan Fund

Fadiran Ifeloluwa April 27, 2024

President Bola Tinubu has approved the nomination of Mr. Jim Ovia, a well-known banker and businessman, as Chairman of the Board of the Nigerian Education Loan Fund (NELFUND). Mr. Ovia is the founder of one of Nigeria’s largest banks and a respected business leader who has made several efforts and contributions to the development and […]

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Obasanjo, Bells University VC request inclusion of private universities in Student Loan Scheme

Fadiran Ifeloluwa April 23, 2024

Former President Olusegun Obasanjo and Prof. Jeremiah Ojediran, Vice Chancellor of Bells University of Technology in Ota, Ogun State, have asked the Federal Government to include students from private universities in the upcoming Student Loan Scheme. They addressed at the official opening of the Asiwaju Onafowokan, Coleman Wires and Cables building yesterday at Bells

Edu News

We guarantee transparency and accountability with Student Loan Funds – NELFUND

Fadiran Ifeloluwa April 18, 2024

Mr. Akintunde Sawyer, Managing Director/Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), has stated that the fund will be properly administered. The NELFUND executive emphasised that the fund is intended for indigent children who require unrestricted access to education. He stated that NELFUND will ensure that every kobo disbursed from the fund is

Edu News

Student Loan Scheme set to launch with 1.2 million beneficiaries

Fadiran Ifeloluwa April 17, 2024

The first group of beneficiaries of the Bola Ahmed Tinubu Administration’s Student Loan Scheme would include 1.2 million young Nigerians. The process of participation in the initiative, whose enabling law was signed by President Tinubu on April 3, would begin “anytime soon,” according to Mr. Akintunde Sawyer, Managing Director/Chief Executive Officer

Edu News

President Tinubu appoints management for the Nigerian Education Loan Fund

Fadiran Ifeloluwa April 6, 2024

President Bola Tinubu has selected the management team for the Nigerian Education Loan Fund (NELFUND) in an effort to improve access to higher education and stimulate vital skill development among Nigerian students. The management team has been tasked with supervising the Nigeria Education Loan Fund, an entity established to provide financial assistance in the form […]

Edu News

Students Loan: Lawmaker assures Nigerian students of proper funding

Fadiran Ifeloluwa April 5, 2024

Hon Gboyega Isiaka, Chairman of the House of Representatives Committee on Students Loans, has assured Nigerians that the Federal Government is committed to providing adequate funding for the plan for all qualified citizens studying at public-owned tertiary institutions across the country. Isiaka, who represents the Egbado North/Imeko Afon Federal Constituency in Ogun

Edu News

Groups of people banned from receiving student loans (Full List)

Fadiran Ifeloluwa April 4, 2024

Nigerians have praised President Bola Tinubu since he signed the Students Loan Bill into law, a provision that is supposed to assist impoverished students in accessing higher education. In this article, five categories of people ruled ineligible for the loan are highlighted. Below is the list of persons who are not eligible for the loan: […]

Edu News

Use the student loan programme to develop digital skills

Fadiran Ifeloluwa April 2, 2024

The Director-General of the National Information Technology Development Agency (NITDA), Abdullahi Kashifu Inuwa, has encouraged the Nigeria Education Loan Fund (NELFUND) to prioritise short courses in digital skills. The call is very appropriate and timely, and it represents a huge step forward in Nigeria’s digitization path, particularly as the country’s

Edu News

NANS suggests five years after NYSC for student loan repayment

Fadiran Ifeloluwa March 19, 2024

The National Association of Nigerian Students has stated that it is unrealistic to expect recipients of the Federal Government loan scheme to begin payback two years after completing the National Youth Service Corps. It argued that less than 10% of graduates are incorporated into the employment market within two years after completing NYSC. It therefore […]

Edu News

FG postpones launch of student loan scheme indefinitely

Fadiran Ifeloluwa March 13, 2024

The Federal Government has postponed the commencement of the Nigerian Student Loan Scheme indefinitely. The Executive Secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyer, claimed this in an interview with ARISE NEWS. According to Sawyer, the loan, which was originally scheduled to start on Thursday, has been postponed again due to certain

Edu News

Tinubu set to launch students loan scheme on Thursday

Fadiran Ifeloluwa March 11, 2024

President Bola Tinubu will launch the Student Loan Scheme on Thursday, according to information released by the Presidency. This was revealed on Sunday by Ajuri Ngelale, Tinubu’s Special Advisor on Media and Publicity, during an appearance on TVC’s “Counting the Cost of Presidents Tinubu’s Reforms.” Ngelale states that the President will

Edu News

FG says student loan recovery will commence two years after NYSC

Fadiran Ifeloluwa March 7, 2024

The Federal Government has declared that payments for the Nigeria Education Loan Scheme (NELFund) will commence two years after beneficiaries have completed the National Youth Service Scheme (NYSC). Dr. Akintunde Sawyer, NELFund’s Executive Secretary, revealed this information in an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja. Sawyer

Edu News

Tinubu to launch the student loan scheme on Feb 21

Fadiran Ifeloluwa February 8, 2024

President Bola Tinubu is scheduled to unveil the Student Loan Scheme at the State House in Abuja on February 21, barring any unanticipated conditions. The Nigeria Education Loan Fund’s Executive Secretary, Dr. Akintunde Sawyerr, revealed that the official launch will take place in tandem with the nationwide opening of applications from qualified candidates. “Yes, it

Edu News

Federal Government speaks on how student loan can be accessed

Fadiran Ifeloluwa January 23, 2024

Federal Government’s student loan plan will be easy to apply for, according to officials. They said there will be no human contact and that everything will be automated. Dr. Akintunde Sawyerr, the Students Loan Board’s executive secretary and chief executive officer, told the press at the Aso Villa following his meeting with President Bola Ahmed […]

Edu News

FG to use education tax to fund the student loan scheme 

Fadiran Ifeloluwa January 23, 2024

Yesterday, the Federal Government disclosed that, in partnership with the Federal Inland Revenue Service (FIRS), education taxes will be used to fund the Student Loan Scheme that it recently launched. At the Presidential Villa in Abuja, Dr. Akintunde Sawyerr, the Executive Secretary of the Student Loan Board, and Zacchaeus Adedeji, the Chairman of the FIRS, […]