The Nigerian Education Loan Fund (NELFUND) will on Monday, 13 May, begin sensitisation ahead of the application launch.
The Fund’s spokesperson, Nasir Ayitogo, disclosed this in a statement on Friday.
He said the sensitisation would take a multifaceted approach, including town hall meetings, radio and television broadcasts, social media campaigns, interactive workshops, and distribution of materials.
“In a move to foster awareness and understanding of the Nigerian Students Loan Programme before its official launch, the Nigerian Education Loan Fund (NELFUND), led by its Managing Director, Mr. Akintunde Sawyerr, is excited to announce the commencement of a comprehensive sensitization campaign,” parts of the statement reads.
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Mr Ayitogo said the move is aimed at sensitising the Nigerian public of the student eligibility criteria, guidance on application procedure, repayment options and the benefits of the programme.
“By fostering a culture of transparency, accessibility, and accountability, NELFUND is steadfast in its commitment to empowering Nigerian youth to pursue their educational aspirations without the burden of financial constraints,” he said.
“Through the Students Loan programme, NELFUND envisions a future where every young Nigerian can unlock their full potential and contribute meaningfully to the nation’s development.”
Student loan
In June last year, President Bola Tinubu signed the Access to Higher Education Act that creates a legal framework for granting loans to indigent or low-income Nigerians to facilitate the payment of their tuition fees in Nigerian universities.
The Nigerian Education Loan Fund (NELFUND) is the creation of the Access to Higher Education Act, 2023. NELFUND is the body created by the Act to handle all loan requests, grants, disbursement, and recovery of the loans provided.
In April, Mr Tinubu signed an amended version of the bill.
The Fund, according to the Act, is to be funded from multiple streams and will engage in other productive activities.
It will also be funded through donations, gifts, grants, endowment, and revenue accruing to the fund from any other source, according to the Act.
Failed take-off
However, before Mr Tinubu sent the bill to the National Assembly for reenactment, it failed to take off three different times.
Shortly after Mr Tinubu signed the bill into law last year, the then Permanent Secretary at the Ministry of Education, David Adejoh, said the scheme was scheduled to take off in September 2023, but it did not.
READ ALSO: Student Loan: Why private institutions’ students, inmates won’t benefit – Official
Later, Mr Tinubu announced at the National Economic Summit Group (NESG) conference that the implementation ‘must begin’ in January and proposed N50 billion for its take-off in the 2024 budget he submitted to the National Assembly.
In March, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, announced the postponement of the take-off “because of the need to have all stakeholders fully aligned before the formal flag-off by President Bola Tinubu.”
He added that the president had already approved funds for the take off.
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