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- NELFUND has provided tuition and upkeep loans to implicit 396,000 students, galore of whom are the archetypal successful their families to be tertiary institutions
- Since opening its portal successful May 2024, the money has disbursed N77 cardinal and introduced a integer level to simplify and way the indebtedness process
- The President Tinubu inaugural besides includes enactment for vocational students and aims to region fiscal barriers to education
Legit.ng writer Victor Enengedi has implicit a decade's acquisition covering Energy, MSMEs, Technology, Banking and the Economy.
In a large boost for students crossed Nigeria, the Nigerian Education Loan Fund (NELFUND) has rolled retired tuition and upkeep loans to astir 400,000 beneficiaries, galore of them the archetypal successful their families to be assemblage oregon college.
The agency’s Managing Director, Akintunde Sawyerr, shared the uplifting quality during a caller media chat, revealing that the money has received implicit 645,000 applications since its motorboat successful May 2024.
Source: Getty Images
Sawyerr explained that this inaugural is portion of President Bola Tinubu’s Renewed Hope Agenda, which puts young Nigerians astatine the centre of nationalist development.
His comments travel earlier claims by immoderate students of 23 nationalist universities and polytechnics successful Nigeria that delayed disbursement of organization loans from the money threatened their quality to conscionable tuition deadlines.
He said that truthful far, NELFUND has disbursed a monolithic N77 billion, with N41.7 cardinal going straight to 210 schools for tuition fees and N35.3 cardinal sent consecutive to students arsenic surviving allowances.
Sawyerr said:
“Behind each of these numbers are existent people, young Nigerians whose dreams were erstwhile delayed oregon denied by circumstance, but who present transportation a renewed consciousness of possibility.”To marque the process creaseless and fair, NELFUND introduced a integer indebtedness portal built to planetary standards, allowing students to apply, track, and verify their loans with ease.
The money besides expanded to see those successful vocational and method training, showing a beardown absorption connected applicable skills and aboriginal jobs.
In effect to tech and banking hiccups, NELFUND rapidly allowed relationship updates and switched to utilizing regular slope accounts to guarantee students received their funds without delay.
Source: Getty Images
NELFUND asks students to clasp opportunity
Sawyerr has encouraged students to marque the astir of the pupil indebtedness programme designed to easiness the outgo of tertiary education.
Speaking astatine a sensitisation lawsuit hosted by the National Association of Nigerian Students (NANS) successful Port Harcourt, Rivers State, Sawyerr described the inaugural arsenic a game-changer successful the country’s acquisition system.
He emphasised that the strategy is much than conscionable fiscal enactment but a almighty instrumentality to unlock opportunities, ensuring that nary pupil is held backmost from pursuing their dreams owed to a deficiency of funds.
NELFUND warns institutions against fraud
In related news, Legit.ng reported that NELFUND had issued a stern warning to tertiary institutions progressive successful shady practices, including pressuring students for fees already covered by the indebtedness scheme.
This comes amid reports that immoderate schools proceed to request payments from students, contempt receiving tuition fees straight from NELFUND.
The money expressed readiness to instrumentality ineligible steps against immoderate instauration recovered blameworthy of extortion oregon withholding cardinal accusation from students.
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Source: Legit.ng
