Why Master’s, PhD Students Can’t Access FG’s Student Loan For Now —NELFUND Explains

• No Postgraduate Eligibility: NELFUND’s student loan currently excludes postgraduate students, focusing solely on undergraduates seeking their first degree.
• Massive Disbursement: Over 271,000 Nigerian students have benefited from the loan program since its launch in May 2024, covering tuition and living expenses.
• Future Inclusion Possible: NELFUND plans to extend the loan scheme to postgraduate students in the future but is currently prioritizing those at risk of dropping out of undergraduate programs.

The Nigerian Education Loan Fund (NELFUND) has disclosed that over 271,000 Nigerian students pursuing tertiary education have benefited from the Federal Government’s Student Loan program since its introduction in May 2024.

The Fund also clarified the eligibility requirements, explaining why postgraduate students are currently excluded from the initiative.

 

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Speaking during TVC’s Breakfast Saturday program, NELFUND’s Managing Director, Akintunde Sawyerr, provided insights into the loan’s implementation and progress.

According to Sawyerr, as of Saturday, March 22, approximately 438,000 out of 521,000 registered applicants have successfully submitted their applications for the loan.

He remarked, “Nigerian students are responding very positively to the initiative. With each disbursement, trust in the system continues to grow. One significant outcome is that President Bola Tinubu is restoring confidence in the government. We are committed to transparency, and students appreciate that.

“To date, around 271,000 students have had their tuition fees or both tuition and living expenses covered by the program.

“The President has mandated that the loan application process be fair and accessible. You don’t need any special connections to qualify—there is no favoritism involved. We are ensuring that access to the loan is completely democratized.”

While the repayment process has not yet begun, Sawyerr assured that NELFUND is developing a comprehensive structure to facilitate smooth and timely repayments.

He also emphasized that the program currently excludes postgraduate students, as the primary focus is on supporting those pursuing their first degree.

“Postgraduate students cannot apply for this loan,” Sawyerr clarified. “Our resources are currently dedicated to helping those who are taking their first steps into tertiary education.

“We recognize the importance of advanced studies, and we hope to extend support to Master’s and PhD students in the future. However, our current priority is to assist students who are unable to begin or complete their undergraduate education due to financial difficulties.”

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He further explained, “Our main objective is to prevent students from dropping out after secondary school or midway through their university education. We want to ensure that financial constraints do not hinder their progress. Once we address these urgent needs, we will eventually expand the program to include postgraduate students.”

 

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