A total of 2,973 students of the University of Ilorin (UNILORIN), Kwara State have benefitted from the Nigerian Educational Loan Fund (NELFUND).
LEADERSHIP gathered that over 10,000 students of the university applied for the education loan to enable them meet their financial obligations in the pursuit of their educational career.
The Vice-Chancellor of University of Ilorin, Prof. Wahab Egbewole(SAN) confirmed that the institution had received two tranches of NELFUND loan.
Prof. Egbewole disclosed that the university received a sum of ₦52,879,000 for 802 students in the first tranche and ₦219,407,320 for 2,171 students in the second tranche.
While hoping that NELFUND will provide a third tranche to cater for more students, Egbewole stated that “the institution hopes to improve on the first two tranches as more than 10,000 students have applied for the NELFUND loan.”
He, however, called on the management of NELFUND to streamline the loan disbursement process, citing challenges relating to the Remita payment system.
He said, “One key issue that students have raised is the difficulty with Remita. There has been some back and forth regarding this, and I believe that NELFUND can sit down to address it”.
On the impact of NELFUND on the students of the university, Egbewole praised the federal government for establishing the scheme with its objective of ensuring that no student is left behind due to financial constraints.
He noted that beyond covering tuition fees, the scheme also provides a monthly stipend to beneficiaries, thereby easing the financial burden on the students.
Egbewole noted that many students who might have dropped out of school due to financial difficulties have been able to continue their education in view of NELFUND’s support.
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