From Fred Ezeh, Abuja
Nigerian Education Loan Fund (NELFUND) said it’s concerned with low participation of students from the south-south, south east regions in the students’ loan programme.
NELFUND, at a meeting of stakeholders in Abuja, on Monday, said that available data indicated that students in these regions are not indicating interest in the programme, perhaps, due to low sensitization of parents and students.
Executive Director of Operations at NELFUND, Mr. Iyal Mustapha disclosed in his presentation that over 576,058 students have registered, with a total application value of ₦170,437,179,836, urging institutions in the regions to improve sensitisation efforts for timely loan applications.
Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, said the gathering was a critical milestone in the collective journey it has embarked upon to deliver a fully digitized, transparent, and student-centric financial aid system for Nigerian higher education.
He said: “So far, we have adhered to transparent and accountable processes. If a person has already paid their fees in their final year, and we have paid their tuition, it is the obligation of such individual to go to school to register the complaint.
“But to complain that you have already graduated and you have left, the fact of the matter is people applied in their final year. You have to go through a process that allows us to make sure that they are the one who are actually applying and who actually need it before we could effect disbursement.
Ifeoluwa Ehindero, Chairman of the House Committee on Students Loan, Scholarships, and Higher Education Financing, in his remarks, said for the system to be truly effective, there is need to modernise and streamline how to manage, track, and deliver the funds to deserving students.
He said automating and optimising the NELFUND systems aim to create a more transparent, efficient, and responsive process for loan applications, approvals, and disbursements.
“This is essential for the success of the initiative and will go a long way in ensuring that our students benefit in a timely and accountable manner.
“As members of the House of Representatives Committee on Student Loans, we have been working tirelessly to ensure that the legislative framework supports and facilitates these reforms. However, legislative efforts alone are not enough.
“We need your expertise, your feedback, and your active participation to make sure that we have a system that works for everyone from the students applying for loans to the institutions managing the funds,” he said.