NELFUND and NASS Expand Student Loan Scheme to 7 Million

The Nigerian Education Loan Fund (NELFUND) and the National Assembly (NASS) are initiating a plan to expand the federal government's student loan scheme from 1.6 million to 7 million beneficiaries across tertiary institutions and vocational centers nationwide. Akintunde Sawyerr, Managing Director of NELFUND, disclosed that the scheme has disbursed N282 billion, directly benefiting 1.6 million Nigerian students.

This impact extends to nearly 10 million individuals when considering average family sizes. The initiative aims to deepen access to education and drive socio-economic transformation.

Barau Jibrin, Deputy President of the Senate, emphasized the importance of a sensitization campaign to inform eligible students about the program, as many remain unaware of the opportunities available. Ifeoluwa Ehindero, Chairman of the House Committee on Student Loan and Scholarship, stated that the program is a major intervention to widen access to higher education for disadvantaged students.

The expansion is part of the National Assembly's oversight responsibilities to promote equitable access to education.