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Protest Rocks FG student Loan Scheme

… Alleges marginalization

Published

Thursday, July 18, 2024 at 07:58 AM

Written by Brenda Izu

As the Federal Government opens applications for the student loan initiative, the Managing Director of the Nigerian Education Loan Fund(NELFUND), Dr. Akintunde Sawyerr, says more students from northern institutions are leading in applications for the facility as compared to students from the south.

In April 2024, President Tinubu signed into law the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024.

Sawyerr pointed out that students of higher institutions based in Nigeria’s South are not applying for loans because they doubt their viability.

He revealed this in Abuja on Wednesday to State House correspondents after the launch of the disbursement of loans to applicants by President Bola Tinubu at the Presidential Villa.

The NELFUND MD insisted that more students from the North applied for the loans due to “their proactive approach and effective networking.”

“In the southern part of the country, there’s growing awareness and interest. There’s been a lot of scepticism, and I think the most sceptical parts of the country are in the South; they question everything: Is it true? Is it real? Is it a scam?

Sawyerr said “And I think what you witnessed today with us actually starting this disbursement programme is to say that ‘this is not NO FUND. This is NELFUND.’

“The zones with the highest, I can say to you that institutions in the North of the country have been very proactive at supporting and helping their students and providing their data to us,”

“So, that’s where the leaning is currently. But that (high adoption in the North) is to be expected because they seem very well organised in terms of networking in the northern part of the country.''

“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 added.

While expressing his concerns, Sawyerr noted that NELFUND has embarked on increased awareness creation in the Southern institutions to enable more students embrace the scheme when disbursements begin.

He also revealed that more university students had applied for loans than students of polytechnics and colleges of education.

He stated: “We’re trying to ensure that people know this is not a trick, it’s not a game. Mr. President has backed this with cash and we’re going to disburse that cash.

“In terms of the three levels of institutions, the universities are the ones with the highest demand for the loans, then I think it’s followed by the polytechnics and then the teacher training colleges and I think it’s probably going to remain that way, the bias is going to remain that way.”

Sawyerr also pointed out that private institutions were exempted from the scheme because their management charge higher school fees.

The NELFUND boss stated confidently that the loan scheme would have a positive impact on many lives in the country. “The effect of providing this opportunity for the most needy Nigerians, most capable Nigerians in many ways, and the people who probably will look after us, or whose decisions will impact on us in our old age cannot be underestimated.

“These are the most important people in the country that we’re trying to affect. So, I want to give all the praise and all the recognition to the President, His Excellency Bola Tinubu, for having the vision and the courage to do what he has just done. I’m sure you’ve all heard that fortune favours the brave and this courageous move will bring fortune not just to him but to the entire nation.” He said.

Edited By: Anibaba

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Protest Rocks FG student Loan Scheme

As the Federal Government opens applications for the student loan initiative, the Managing Director of the Nigerian Education Loan Fund(NELFUND), Dr. Akintunde Sawyerr, says more students from northern institutions are leading in applications for the facility as compared to students from the south.

In April 2024, President Tinubu signed into law the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024.

Sawyerr pointed out that students of higher institutions based in Nigeria’s South are not applying for loans because they doubt their viability.

He revealed this in Abuja on Wednesday to State House correspondents after the launch of the disbursement of loans to applicants by President Bola Tinubu at the Presidential Villa.

The NELFUND MD insisted that more students from the North applied for the loans due to “their proactive approach and effective networking.”

“In the southern part of the country, there’s growing awareness and interest. There’s been a lot of scepticism, and I think the most sceptical parts of the country are in the South; they question everything: Is it true? Is it real? Is it a scam?

Sawyerr said “And I think what you witnessed today with us actually starting this disbursement programme is to say that ‘this is not NO FUND. This is NELFUND.’

“The zones with the highest, I can say to you that institutions in the North of the country have been very proactive at supporting and helping their students and providing their data to us,”

“So, that’s where the leaning is currently. But that (high adoption in the North) is to be expected because they seem very well organised in terms of networking in the northern part of the country.''

“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 added.

While expressing his concerns, Sawyerr noted that NELFUND has embarked on increased awareness creation in the Southern institutions to enable more students embrace the scheme when disbursements begin.

He also revealed that more university students had applied for loans than students of polytechnics and colleges of education.

He stated: “We’re trying to ensure that people know this is not a trick, it’s not a game. Mr. President has backed this with cash and we’re going to disburse that cash.

Sawyerr also pointed out that private institutions were exempted from the scheme because their management charge higher school fees.

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