The Nigerian Education Loan Fund (NELFUND) has reassured students that those who benefit from the student loan program will not face any restrictions on traveling abroad after graduation.
Akintunde Sawyerr, the Managing Director and CEO of NELFUND, clarified this point during a sensitization program at Edo University, Iyamho, on Wednesday, addressing concerns from students about the potential for travel limitations due to the loan.
He emphasized that the law that established NELFUND does not prevent beneficiaries from seeking work abroad. “You are not tied,” Sawyerr said. “It doesn’t say you cannot leave Nigeria because you have a loan with us. You can go wherever you want.”
Sawyerr encouraged students to take advantage of the loan scheme, which provides an interest-free repayment structure, even if repayments extend for up to a decade. He stressed that NELFUND offers a unique opportunity compared to other loans, as it helps fund something that can never be taken away—their education.
He also mentioned that NELFUND is ready to disburse N135 billion if all the applications received are processed. To date, NELFUND has received approximately 520,000 registrations, processed 419,000 applications, and already paid out N61.4 million to 51 students at Edo University.
Dr. Paddy Iyamu, Edo State Commissioner for Education, reaffirmed the state’s commitment to ensuring students benefit from the program. He urged heads of tertiary institutions to actively promote the loan scheme among students.
At Ambrose Alli University, Ekpoma, NELFUND expressed concern over the low number of applications, with only 102 students applying. Lami Suwaid, Director of Loan Allocation and Distribution at NELFUND, encouraged universities to boost participation in the upcoming registration cycle.
The Acting Vice Chancellor of Edo University, Professor Dawood Egbefo, praised the initiative, noting that several students from the university had already benefited from the funding.
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