Nigeria Education Loan Fund (NELFUND), has extended its enlightenment engagement to thousands of students in the University of Nigeria, Nsukka (UNN) and Nnamdi Azikiwe University (UNIZIK), respectively.
NELFUND said it observed that the students felt they are left behind in the noble financial intervention for students, hence the decision to reach out to them with relevant information regarding the recently established student loan scheme being implemented by NELFUND.
NELFUND Managing Director, Akintunde Sawyyer, led senior officials of NELFUND to the sensitisation engagement with the students, while the National President of NANS, Comrade Lucky Emonefe, and other officials joined the advocacy, while the Special Assistant to the President on Community Engagement (South East), Chioma Nweze, also mobilized resources and support for the engagement.
Sawyyer said the NELFUND was unimpressed with the level of participation of the students from the South East in the lofty intervention, thus using the opportunity to expose the students to the benefits of the scheme particularly in lifting financial burden from themselves and their parents.
Speaking to students in UNN, the NELFUND boss, explained that the student loan scheme was established by the President, Bola Ahmed Tinubu, to provide “cheap” funds to indigent students, and ensure that no student is denied the opportunity of accessing tertiary education due to financial reasons.
He took them through the steps of application, and encouraged them to visit the NELFUND website which is easily accessible and self-directory, to get more information, and submit their applications, reminding them of the need for accuracy in the information they to avoid unsuccessful applications.
He said: “We had to come and engage you in this interactive session because of the interest of President Tinubu in your future, which can become brighter and better if quality and affordable education is added to whatever knowledge you must have obtained.”
He told the students that the loan is an interest-free one meant for whoever want to acquire tertiary education, assuring them that the repayment process is not as stressful as they think. “Beneficiaries afe expected to commence repayment of the loan two years after they had completed NYSC. But that could also be extended if there’s delay in securing a job.”
At the Nnamdi Azikiwe University (NAU), Awka, otherwise known as UNIZIK, the NELFUND boss, disabused the minds of the students that the student loan was a trap set by the government to mortgage their future.
“This is a false information that should be outrightly disregarded. The student loan is an idea that was conceived to take away financial burden from parents and students. The process is simple and the repayment system also is not stressful and choking.
“Let me assure you tha no one will call, text or harass you about the loan. You pay back the loan at your pace without any form of harassment. You can choose to start the repayment of the loan immediately after your NYSC if you are able to secure a job.
“But if you venture into private business or self employment, you will be expected to remit 10 per cent of your profit as loan repayment. This is to enable others have enough money to access for their own education. Please save your parents the stress and access the loan. There’s also monthly stipends that can also access for your upkeep.
UNN Acting Vice Chancellor, Prof. Romanus Ezeokonkwo, appreciated NELFUND for the intervention, and assured maximum support, and more mobilization and sensitisation of students on the student loan scheme and its benefits.
Benedict Soludo, the Special Assistant to Anambra State Governor on Students Affairs, commended the President for the opportunity, and promised to continue the sensitisation and mobilization of the students at other fora to access the loan.
He also suggested an interactive engagement with parents and traditional rulers on the matter, so they can be convinced to allow their children participate in the scheme, thus taking huge financial burden off their shoulder thereby, making funds available for other engagements.
