Descrepancies Delaying Loan Access By Students – NELFUND

The Nigerian Education Loan Fund (NELFUND) has urged Nigerian students to ensure uniformity across all their official documents to ease their access to the federal government loan scheme.

At a NELFUND media engagement held at the Fund’s headquarters in Abuja recently, the agency noted that discrepancies in personal identification documents have been the major issue making it difficult for thousands of students to get captured nationwide.

According to NELFUND, such mismatches often result in failed applications due to fraud prevention protocols and identity verification safeguards.

NELFUND described the issue as a major obstacle, particularly in the Southern regions, where completion rates remain low.

The managing director and chief executive officer of NELFUND, Mr. Akintunde Sawyerr, emphasised that the scheme is designed to offer a sustainable alternative to commercial loans often taken by parents, which can strain household finances and disrupt children’s education.

He noted that the application process is student-driven, with NELFUND verifying school charges, enrolment status, and identity before disbursing funds directly to institutions.

“The only direct payment to students is the monthly stipend,” he clarified. “Once fees are paid, schools notify students so they can continue their academic activities without hindrance.”

Despite the progress, Sawyerr acknowledged ongoing challenges, including data integrity issues at some institutions, delays in verification, and widespread misinformation. He stressed that NELFUND remains committed to improving its systems and engaging with applicants.
“Through it all, we’ve remained steadfast — improving our systems, engaging directly with applicants, training institutional focal points, and responding swiftly to tickets, concerns, and grievances.

“Our ethos at NELFUND is simple: listen, learn, adapt. We are not just administrators of a loan scheme; we are custodians of a national trust. And that trust demands humility, responsiveness, and a long-term view.

“As we look ahead, we remain committed to the principles of equity, efficiency, and excellence. We are refining our operational model, expanding our partnerships, and investing in data systems that will allow us to reach even more young Nigerians in need.”
The student loan programme, which opened its portal in May 2024, has so far disbursed N77 billion, covering tuition fees and a monthly upkeep stipend of N20,000. Of the 645,692 students who applied, only 396,252 have received funding, spanning 210 institutions nationwide.