‘N355.9bn NELFUND loans face recovery risk’
A policy brief warns N355.9bn NELFUND student loans face recovery risk. Integration with Nigeria Revenue Service income data is crucial for sustainability. Read More: https://punchng.com/n355-9bn-nelfund-loans-face-recovery-risk/
The Nigeria Education Loan Fund (NELFUND) has disbursed a total of N355.87 billion in student loans since its portal launch in May 2024, according to a policy brief released by the iRead To Live Initiative, a Nigerian higher education policy think tank. The NELFUND warns that the loans could be difficult to recover under the current repayment structure, as beneficiaries who have completed the mandatory two-year post-National Youth Service Corps grace period will be subject to enforcement.
The think tank suggests integrating NELFUND with Nigeria Revenue Service income data to enable better tracking and recovery of loans from self-employed graduates and borrowers outside formal employer payroll systems.
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- ‘N355.9bn NELFUND loans face recovery risk’ punchng.com
