NELFUND Warns Students Against Unnecessary Loan Applications

The Nigerian Education Loan Fund (NELFUND) has cautioned students against applying for education loans they do not need, stating that the loan scheme is voluntary and designed to assist those who cannot afford their educational expenses. This warning was communicated in a statement issued in Abuja on Wednesday, signed by Oseyemi Oluwatuyi, the Director of Strategic Communications.

NELFUND clarified that students who can pay their school fees without assistance should refrain from applying for loans, as making the loans compulsory would undermine the scheme's purpose. The fund reiterated that the loans are interest-free, providing a viable option for students facing financial difficulties.

However, it reminded potential applicants that they must adhere to the repayment terms outlined in the Student Loans Act. NELFUND urged educational institutions and stakeholders to disseminate accurate information about the scheme and assist students genuinely in need of financial support.