The Nigerian Education Loan Fund (NELFUND) says applying for a student loan is not compulsory for undergraduates in the nation’s tertiary institutions.
In a statement on Wednesday, Oseyemi Oluwatuyi, director of
strategic communications at NELFUND, said the loan scheme was established to
provide financial assistance to Nigerian students who need support to meet the
cost of their education.
“It is designed to remove financial barriers to higher
education, promote equal access to learning opportunities, and ensure that no
eligible student is denied an education simply because of financial
constraints,” the statement reads.
“Consequently, the decision to apply for and access the loan
should be based on an individual student’s financial circumstances and genuine
need for assistance.
“Students who do not require financial support are under no
obligation to apply for or access the facility.”
Oluwatuyi said making the loan compulsory for all students,
regardless of their financial circumstances, would run contrary to the scheme’s
fundamental purpose.
She said NELFUND’s objective is not to encourage every
student to borrow, but to ensure that every eligible Nigerian student who
genuinely needs financial assistance has the opportunity to access it.
According to her, the student loan scheme is a support
mechanism, not an obligation.
The fund noted that although the student loan is
interest-free, it comes with repayment obligations in accordance with the
provisions of the Student Loans Act.
It advised students to understand the scheme’s terms and
conditions and make informed decisions before applying.
NELFUND urged tertiary institutions, student leaders and
other stakeholders to provide accurate information about the scheme and guide
students appropriately, particularly those who require financial assistance to
continue their education.
The clarification comes amid viral claims that the Enugu
State College of Education (Technical) has directed all students at the Nigeria
Certificate in Education (NCE) and degree levels to enrol for and access the
NELFUND loan.
The institution was reported to have issued the directive in
a circular dated October 6 and signed by Patrick Aneke, its acting registrar.
Students who fail to comply with the directive are
reportedly facing threats of being barred from taking examinations or forced to
drop out entirely.
However, as of the time of filing this report, the
institution had yet to respond to the claims.
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