The Nigerian Education Loan Fund (NELFUND) is planning to introduce specialized software aimed at helping students with disabilities in higher institutions benefit from its loan program.
Akintunde Sawyerr, the Managing Director/Chief Executive of NELFUND, shared this update during a stakeholders’ engagement event in Benin City, Edo State, as reported by the Fund on Sunday.
Sawyerr highlighted that the law underpinning the loan scheme guarantees equal opportunities for all students. He further noted that NELFUND will partner with the National Commission for Persons with Disabilities to improve inclusivity, focusing on developing software to assist visually impaired students in applying for loans.
The event brought together various stakeholders, including religious leaders, government officials, teachers, parents, and persons with disabilities. Sawyerr described the initiative as a significant step forward for education in Nigeria, particularly under President Bola Tinubu’s administration.
Sawyerr also addressed concerns about loan repayment in the case of a borrower’s death, explaining that the loan would not be transferred to the family but rather written off entirely.
He reiterated the government’s commitment to ensuring that no Nigerian student is deprived of tertiary education due to financial constraints. He emphasized that President Tinubu’s administration established NELFUND to help students in financial need continue their education after secondary school.
Edo State Deputy Governor Dennis Idahosa praised the Federal Government for launching the student loan scheme.
He expressed gratitude to President Tinubu and former House Speaker Femi Gbajabiamila for their roles in making the initiative a reality. He also pledged the state’s support in sensitizing students about the loan program.
During the engagement, Edo State’s Education Commissioner, Dr. Paddy Iyamu, humorously advised parents not to have more children simply because NELFUND would cover tertiary education costs.
He explained that the loan scheme, with its zero-interest rate and repayment terms, makes education nearly free. Repayment will begin two years after completing the National Youth Service Corps (NYSC) program and will be capped at 10% of the beneficiary’s salary.
This initiative is seen as a major step toward increasing access to tertiary education for students across Nigeria.
