By Muhammad Muntazar
The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyer, has assured students that loan applications under the federal government’s student loan scheme require no special connections, only meeting eligibility criteria.
Speaking on Tuesday during a sensitization program at Ahmadu Bello University (ABU), Zaria, Sawyer emphasized: “Students only need to have an access institution and a JAMB registration number to qualify.”
During his presentation titled ‘Understanding the NELFUND Student Loan Scheme: Access, Application and Support’, Sawyer outlined the loan’s borrower-friendly terms. The interest-free loan only requires repayment after beneficiaries secure employment two years post-NYSC, with a 10% salary deduction mandated for those employed.
The scheme includes provisions for loan forgiveness in cases of applicant death or continued unemployment after five years post-NYSC, while payments are paused during any periods of unemployment.
“If one applies and dies eventually, the loan is forgiven. Similarly, if one doesn’t get a job five years after NYSC, the loan is written off,” the NELFUND boss clarified.
Sawyer praised President Bola Tinubu’s commitment to education, describing him as “a strategic advocate of education and lover of youth” for establishing the inclusive scheme.
ABU Vice-Chancellor Prof. Adamu Ahmed, represented by DVC Prof. Sanusi Rafindadi, endorsed the initiative as transformative for Nigerian tertiary education, pledging the university’s full support in sensitizing students. The event saw participation from key university officials including Dean of Student Affairs Prof. Sahalu Junaidu and other administrative leaders.
Sawyer urged all eligible students to register with NELFUND, noting “circumstances could change,” even for those not immediately applying. The program continues its nationwide awareness campaign to ensure maximum student participation in the landmark scheme.