By Opeyemi Quadri 
The management of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Oyo State, has urged its undergraduate students to apply for the ongoing student loans offered by the federal government.
The Nigerian government launched the Nigerian Education Loan Fund (NELFUND) to provide financial assistance to undergraduate students for their studies and upkeep in July 2024.
In a communiqué signed by the Registrar of the institution, Mrs. Olayinka O. Balogun, and sent to students, she expressed concern over the low participation of LAUTECH students in the student loan program.
According to November 2024 data obtained from the loan agency, a total of ₦11,047,793,949.80 has been disbursed.
However, students from LAUTECH have received only ₦8.6 million, while institutions such as Bayero University, Kano, have received ₦11.3 billion on behalf of their students.
“It is worthy of note that the number of students who have so far taken advantage of the NELFUND initiative in LAUTECH is negligible compared to institutions of higher learning in some other parts of the country,” she said.
Mrs. Balogun called on all registered bona fide students of the institution to avail themselves of the benefits provided by NELFUND, which is primarily designed to assist students in public tertiary institutions and their parents in overcoming financial barriers to education.
Highlighting some benefits of the education loan, she stated, “Through the initiative, the Federal Government hopes to provide a path to educational accessibility without hurdles and reduce financial stress on students, parents, and families.”
She emphasized that the student loan is interest-free and has no hidden charges, adding that repayment begins two years after the completion of the mandatory national service.
Recall that President Bola Tinubu launched the education loan scheme in July 2024 to enable undergraduates in federal and state institutions to access loans for their education.
Students interested in applying for the loans are advised to use the official application portal: https://portal.nelf.gov.ng/
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Editorial Staff
I have applied for the loan since August and no update yet but it is verified. When I applied the school fees I saw there was #120,000 and now our school has increased to #168,000 as an indigene. What is the solution because the school portal closes next week and will the loan be approved Before then.
Same here! No update frm lautech at all
When are they going to approve our loan because it’s showing pending since and then our exam would soon start and without tuition fee they won’t allow us to write examination