"North Leads in Student Loan Applications as FG Begins Disbursement"

The Nigerian Education Loan Fund (NELF) has commenced the disbursement of loans to students of higher institutions in Nigeria, with the North leading in applications. Dr. Akintunde Sawyerr, Managing Director of NELF, attributed the high adoption rate in the North to better coordination by tertiary institutions in the region.

However, Sawyerr noted that students in the South are skeptical about the loan scheme, questioning its viability. He assured that the skepticism would dissipate as more loans are disbursed. NELF is working to raise awareness in the South to encourage students to embrace the scheme.

More university students have applied for loans than students of polytechnics and colleges of education. Sawyerr emphasized that the loan scheme would have a positive impact on many lives, providing opportunities for needy and capable Nigerians.

National President of the National Association of Nigerian Students, Lucky Imonife, confirmed that the loans are accessible to all students regardless of background. He hailed the launch of the loan scheme as a new dawn in the education sector.

In April 2024, President Bola Tinubu signed the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024, into law. The new law replaces the repealed Student Loan Act, 2023, and seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.