The Nigerian Education Loan Fund (NELFUND) has disclosed that private universities and colleges across the country may begin to benefit from the federal government’s student loan programme within the next three years.
This was revealed by the Managing Director and Chief Executive Officer of NELFUND during a sensitisation and engagement campaign held in Enugu. The campaign, which included the use of local languages, was aimed at deepening understanding and encouraging more students in the region to access the loan scheme.
While the initiative currently targets students in public universities and colleges, NELFUND said its long-term vision is to make education financing accessible to all students, irrespective of the type of institution they attend.
“We’ve only been operational for one year, and our immediate priority is to support students in public institutions who are at risk of dropping out due to financial difficulties,” said the CEO.
“Once we have established the impact of the program, we can begin to consider expanding it to include private institutions, likely within the next two to three years.”
The loan program is designed to prevent students from abandoning their studies over minor financial constraints, especially those who lack access to private school options.
He also acknowledged common challenges faced by students trying to access the scheme, such as misinformation, technical difficulties, and skepticism about the process. “There’s a perception that the system is rigged or inaccessible, but we’re working on the ground to help students navigate the application process and encourage institutional support,” he added.
Supporting the campaign, the Special Adviser on Education Innovation to the Enugu State Governor stressed the critical role the student loan scheme plays in ensuring educational access and equity. She urged academic leaders to guide students in understanding the application process and taking full advantage of the opportunity.
School authorities present at the campaign were tasked with further sensitizing their students, ensuring they understand the procedures and benefits of the program. With students in other parts of the country already benefiting from the loan scheme, NELFUND hopes its outreach efforts will ensure more students across all states are not left behind.
