By Parrot Newspaper 
Student Loan Won’t Stop Beneficiaries from Japa – NELFUND
By Parrot Newspaper
Japa: The Nigerian Education Loan Fund (NELFUND) has reassured students that receiving financial support through its loan scheme will not restrict their ability to travel abroad after graduation.
The Managing Director and Chief Executive of NELFUND, Akintunde Sawyerr, made this clarification during a sensitization programme at Edo University, Iyamho. He addressed growing concerns among students that accepting the loan might limit their mobility.
Students Can Work Anywhere
Sawyerr emphasized that the legal framework guiding the loan scheme does not impose restrictions on beneficiaries’ movement, including seeking employment outside Nigeria.
“The law that set up the Nigerian Education Loan Fund does not limit your ability to go and look for work wherever you want. You are not tied. It doesn’t say you cannot leave Nigeria because you have a loan with us. You can go wherever you want to go in the world,” he stated.
However, he urged beneficiaries to maintain a sense of responsibility and pay back their loans once they start earning, regardless of where they are based.
Interest-Free Loan with Long-Term Repayment
Highlighting the uniqueness of the scheme, Sawyerr pointed out that the student loan is interest-free and offers a flexible repayment structure, even if it takes up to a decade.
“I want you to embrace it and act upon it because, if you miss this opportunity, it’s one that will affect generations… NELFUND is different from all other types of loans. It is the only loan you can take to acquire something that can never be taken away from you,” he explained.
The initiative, he added, is designed to ease the financial burden on students and their families, ensuring access to education without the fear of overwhelming debt.
Disbursement Readiness
NELFUND disclosed that it has received approximately 520,000 registrations and processed about 419,000 applications. So far, 261,000 students have benefited from the scheme, covering both upkeep and institutional fees.
“We have the money and are ready to disburse N135 billion if all applications are fully processed,” Sawyerr assured.
Encouraging More Applications
During the sensitization visit, the Edo State Commissioner for Education, Dr. Paddy Iyamu, expressed the state government’s commitment to maximizing student participation in the programme.
“We want students in Edo State to apply and benefit because this is a highly laudable initiative,” he said, adding that continuous awareness efforts will be made across tertiary institutions.
Similarly, the Acting Vice Chancellor of Edo University, Professor Dawood Egbefo, praised the programme, revealing that 51 students from the university had already received N61.4 million in funding during the 2023/2024 academic session.
However, at Ambrose Alli University (AAU), Ekpoma, NELFUND officials raised concerns about low application rates, with only 102 students applying, accounting for less than N20 million in funding.
The Director of Loan Allocation and Distribution at NELFUND, Lami Suwaid, urged the university to take advantage of the new registration cycle to increase participation.
“The goal is to educate and sensitize our students on NELFUND’s initiatives, equipping them with the knowledge necessary to make informed decisions about their future,” stated Professor Eunice Omoregie, who represented the acting Vice Chancellor of AAU.
Conclusion
With NELFUND’s firm assurance that beneficiaries can travel and work anywhere in the world, the programme presents a rare opportunity for Nigerian students to fund their education without financial strain. However, its success depends on widespread awareness and responsible loan repayment to sustain the initiative for future generations.