Student Loan Scheme Is Inclusive and Accessible to All, Presidency Assures

The presidency has provided further details regarding President Bola Tinubu’s student loan scheme, addressing recent concerns about the potential exclusion of certain groups.

Frederick Nwabufo, the Senior Special Assistant to the President on Public Engagement, issued a statement on Sunday clarifying the aims and operations of the student loan scheme. He emphasized that the scheme is designed with the highest intentions, aimed at securing a better future for young Nigerians and ensuring broad access to higher education.

According to Nwabufo, the initiative is a key step toward removing financial obstacles and guaranteeing that all qualified Nigerian students can pursue higher education and skill development, regardless of their background.

Nwabufo strongly encouraged Nigerians to disregard rumors suggesting that certain groups might be excluded from the scheme. He assured that the primary goal is to ensure equitable access to education for all Nigerian students, irrespective of their region, religion, or socio-economic status. The scheme’s design focuses on inclusivity, aiming to support every eligible student.

NELFUND, the organization responsible for administering the loans, has provided detailed information on how funds are distributed. Nwabufo explained that NELFUND has sent verification lists to all eligible institutions and is currently processing payments for those who have responded. However, some institutions have yet to confirm their participation.

At present, the loan is available only to students enrolled in federal higher institutions in Nigeria. Future phases of the scheme will extend to other public tertiary institutions.

To qualify for the loan, students must be enrolled in public universities, polytechnics, colleges of education, or vocational schools in Nigeria. They need to provide proof of admission, which includes their name, date of birth, admission letter, JAMB number, matriculation number, and BVN. Only those who have applied will benefit from the loan.

There have been concerns about a perceived lack of interest or participation from certain regions, particularly the southern parts of Nigeria. Nwabufo reassured that the student loan scheme is a national program intended to benefit all Nigerians. No region or group will be left out. As of July 31, 2024, NELFUND has disbursed over N1.1 billion to 20,000 students, with additional funds allocated since then.

Institutions in the southeast, including; the University of Nigeria, Nsukka, Nnamdi Azikiwe University, Ebonyi State University, Imo State Polytechnic, Abia State Polytechnic, and Abia State University, have already received funding.

Nwabufo emphasized the importance of embracing this innovative approach to governance and maintaining trust in the government’s efforts. The student loan scheme is a national initiative designed to support all students and ensure that no one is excluded.