Low Uptake Of Student Loan Scheme In South-East And South-South Regions — Says NELFUND.
The National Education Loan Fund (NELFUND) has expressed concern over the low number of student loan applications from the South-East and South-South regions. As of May 4, 2025, the South-East Country region had 27,098 applications, while the South-South region had 37,180 applications. In contrast, the North-West region had the highest number of applicants, with 157,831 students, followed by the North-East with 127,058 applicants.
Skepticism about the Scheme
The low uptake of the student loan scheme in the South-East and South-South regions has been attributed to skepticism about the authenticity of the loan scheme. Iyal Mustapha, Executive Director of Operations at NELFUND, stated that many students are uncertain about the scheme’s legitimacy. The agency is working to address these concerns and increase awareness about the benefits of the loan scheme.
Call to Action
The Managing Director and CEO of NELFUND, Akintunde Sawyerr, urged the South-South and South-East regions to enhance their involvement in the student loan program. He emphasized that the initiative aims to make quality education accessible to all Nigerians, regardless of socioeconomic background. The workshop, which focused on system automation and the loan application process, is part of efforts to improve the scheme’s effectiveness.
Stakeholder Engagement
Stakeholders, including leaders of tertiary institutions, were encouraged to participate in the workshop to discuss ways to improve the loan application process and ensure that the system functions effectively. Ifeoluwa Ehindero, Chair of the House Committee on Student Loans, Scholarships, and Higher Education Financing, emphasized the importance of modernizing and simplifying the methods used to manage, track, and distribute funds to deserving students.
The NELFUND initiative aims to increase access to higher education and promote national development. With the right support and engagement, the student loan scheme has the potential to make a significant impact on the lives of Nigerian students.
