- Southern part doubts student loan
- Tinubu promises to make it thrive in equity
The Managing Director of the Nigerian Education Loan Fund, Dr. Akintunde Sawyerr, says students of private tertiary institutions were excluded from ongoing student loans because they pay higher school fees.
He stated this on Wednesday after the official disbursement of the loan to applicants by President Bola Tinubu, where he presented a cheque to the Vice Chancellor of Bayero University Kano, Prof Sagir Abbas and some students at the Presidential Villa in Abuja.
According to Sawyerr, the expectation of the student loan is to cover as many students as possible, “covering students at private institutions will make it impossible to meet the expectations of the initiative.”
Southern part doubts authenticity of student loan initiative
Speaking on the level of applications by regions, the NELFUND boss disclosed that there is skepticism in the Southern part while more applications have been received from Northern applicants.
He attributed the success of the scheme in the North to coordination, growing awareness by tertiary institutions in the region.
“So, I think we’ll see the scepticism that you can find mainly in the southern part begin to disappear when we start paying out.”
He promised that the loan agency will continue to increase awareness in the South for the students of the region to know that the education loan is real.
Some students in the Southern part who are eager about the time of disbursement have described it “No FUND”, but Sawyerr said continuous disbursement will help dissipate scepticism.
He said the higher institutions in the North have been proactive, “supporting and helping their students and providing their data” to the loan agency since the portal opened for application in May.
He revealed that there is more than enough funding to cater for the current number of applications from across the country, but might need more in the future “but right now, we can disburse to any single person who has applied.”
Sawyerr, who disclosed that NELFUND had received 110,000 applications, said the agency will look at the data to ensure that “those who need these funds get them, and that it is seen to be fair and equitable.”
Mr Sawyerr thanked the president for making the opportunity open for every undergraduate student in government-owned institutions across the country.
Student Loan Scheme Will Thrive On Equity And Inclusiveness – Tinubu
Speaking earlier, President Tinubu promised that the loan scheme will thrive on fairness and promote inclusiveness by removing the financial barrier to higher education for Nigerian students.
He said education is the greatest weapon against poverty and giving Nigerian students access to funding for their education will drive development and help reduce abuse in the society, “We do not want to try ignorance as an alternative,” he said in a statement signed by his head of media Ajuri Ngelale.
Tinubu said he has accepted the responsibility to make access to education to tertiary students a priority, submitting that funding should not be a barrier to access higher qualifications.
The President promised to use inclusiveness as one of the tools to fight terrorism and banditry for Nigerians to be “properly educated and can invest in their own lives. I promise that we will hand a banner without stain to our children. Therefore, it is my honour to launch the portal,’’ he said.
Also speaking, the Chairman of NELFUND Board, Mr Jim Ovia, who said he was honoured to be called upon to serve, said making education loans available to Nigerian students means that Nigeria is meeting the number four of the United Nations’ Sustainable Development Goals (education).
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