Student loans voluntary, not compulsory for tertiary students — NELFUND

The Nigerian Education Loan Fund has clarified that its student loan scheme is voluntary, not compulsory, for tertiary students in Nigeria. In a statement released in Abuja, the fund's Director of Strategic Communications, Oseyemi Oluwatuyi, emphasized that students should only apply for the loans if they genuinely need financial assistance to pursue their education.

The loan scheme was established to eliminate financial barriers to higher education, ensuring that eligible Nigerian students are not denied educational opportunities due to financial constraints. The fund stressed that students who can afford their educational expenses are not obligated to apply for or access the facility, as making the loans compulsory would contradict the scheme's purpose.

The student loan scheme is a support mechanism, not an obligation, according to the fund. Nigerian students are encouraged to provide accurate information about the scheme and guide those who require financial support on how to access it. The interest-free loan facility is intended to help beneficiaries overcome financial difficulties associated with pursuing higher education, but the fund cautioned applicants to understand the repayment obligations before applying.