NELFUND has issued a warning to students about taking unnecessary education loans, emphasizing that the scheme is voluntary and intended for those who cannot afford educational costs. The loans are interest-free but must be repaid according to the Student Loans Act.
NELFUND clarified that accessing its student loan scheme is voluntary after a memo from Enugu State College mandated applications. The fund emphasized that students not needing financial assistance are not obliged to apply, reinforcing the scheme's purpose to aid those in need.
The Nigerian Education Loan Fund clarified that student loans for tertiary students are voluntary, urging applications only when financial assistance is genuinely needed. The loans are interest-free but come with repayment obligations as per the Student Loans Act.
