August 5, 2025 – The Managing Director of the Nigerian Education Loan Fund, Mr. Akintunde Sawyer, has clarified that students do not need any personal connections to apply for loans under the Nigerian students loan scheme as long as they meet the eligibility criteria.
Speaking on Tuesday, August 5, 2025, at a sensitisation programme on the student loan scheme held at Ahmadu Bello University, Zaria, Sawyer explained that applicants only need to have an access institution and a JAMB registration number to apply.
Delivering his presentation titled “Understanding the NELFUND Student Loan Scheme: Access, Application and Support,” he stated that the loan is completely interest free. According to him, repayment begins only if the beneficiary secures employment two years after completing the National Youth Service Corps.
“If one applies and dies eventually, the loan is forgiven; and if one does not get a job five years after completion of NYSC, the loan is also forgiven,” Sawyer said. He further explained that if the beneficiary gets a job two years after NYSC, NELFUND will direct the employer to deduct 10 percent of the salary and remit it to the fund.
The NELFUND boss added that in cases where the loanee loses their job before completing repayment, the deductions will stop until the individual secures another job. He encouraged Nigerian students to support NELFUND, noting that even those who do not intend to apply immediately should still register because circumstances might change.
Sawyer commended the Federal Government led by President Bola Ahmed Tinubu for introducing the scheme to assist Nigerian students, describing the President as a strategic advocate of education and a strong supporter of the youth.
He said the establishment of NELFUND is a deliberate effort to ensure that no one is excluded from tertiary education due to financial challenges.
In his remarks, the Vice-Chancellor of Ahmadu Bello University, Prof Adamu Ahmed, described the student loan policy as one that would have a significant positive impact on tertiary education in Nigeria.
Represented by the Deputy Vice-Chancellor, Advancement, Research and Innovation, Prof Sanusi Aliyu Rafindadi, the Vice-Chancellor assured that the university would take the scheme seriously, as it aligns with the vision of President Bola Ahmed Tinubu to ensure inclusive access to higher education.
Prof Ahmed thanked the NELFUND Managing Director for visiting the institution to sensitise and enlighten students about the loan scheme and the application process.
The event was attended by the Dean of the Student Affairs Division, Prof Sahalu B Junaidu; a representative of the Registrar, Hajiya Basira Raji; the Assistant Dean, Student Affairs Division (Female), Prof Hadiza Tukur; and the Acting Staff Officer of the Division, Malam Jamilu Wada.