The Nigerian Education Loan Fund (NELFUND) has said plans are underway to introduce specialized software aimed at ensuring that students with disabilities in higher institutions can fully take advantage of its loan scheme.
Managing Director/Chief Executive of NELFUND, Akintunde Sawyerr, disclosed this during a stakeholders’ engagement on student loan in Benin City, Edo State.
Sawyerr emphasized that the Act establishing the loan scheme guarantees equal opportunity for all, adding that NELFUND will collaborate with the National Commission for Persons with Disabilities (NCPWD) to ensure more inclusivity.
“We want to see how we can make it easier for those visually impaired, so that they can actually apply for the loan. We are looking at a specific software we are going to use,” he said.
During the event, which brought together religious leaders, parents, persons with disabilities, government officials, teachers, and community representatives, Sawyerr described the initiative under President Bola Tinubu’s administration as a transformative step for education in Nigeria.
Addressing concerns about loan repayment in the event of a beneficiary’s death, he said: “The law says that, if the very person dies, that loan is not transferred to the family or anyone else. The loan is wiped out.”
Sawyerr reiterated the government’s commitment to making tertiary education accessible to all Nigerians, stating that “President Bola Ahmed Tinubu came up with this initiative that no Nigerian student anywhere in Nigeria should be deprived of the opportunity to gain tertiary education because of lack of money.
“In order to actualize this vision, he set up this agency, Nigeria Education Loan Fund. He has funded it, he has put political will behind it, having created a structure through an Act of Parliament that effectively says that we are to go and look for these students, those who are about to drop out, those who are considering not furthering after secondary level, that we should look for them and if money is their issue, we should try to solve it. We’ve been doing that.”
On his part, Edo State Deputy Governor, Dennis Idahosa, commended the Federal Government for making the student loan scheme a reality.
“Let me also use this opportunity to thank the President of our dear country, President Bola Tinubu, for this initiative. Because before now, many families go through a lot of challenges to be able to pay school fees for students across the country.
“The thanks also go to my former boss, the then Speaker of the House of Representatives, Femi Gbajabiamila. In the 9th Assembly, this bill was sponsored by him and was assented by the President, and that is what gave this opportunity to Nigerian students to be able to pay school fees.
“We as a state government, by the grace of God, we are going to collaborate with you for very aggressive sensitization to ensure that almost all the students in Edo State benefit from the student loan initiative,” he said.
Meanwhile, speaking during the stakeholders’ engagement, Edo State Commissioner for Education, Dr. Paddy Iyamu, humorously advised parents against having more children simply because the burden of tertiary education costs would be covered by NELFUND.
“To my men folk, don’t begin to fire on because of NELFUND,” he said, drawing laughter from the audience.
Iyamu described the scheme as nearly free due to its zero-interest nature, explaining that repayment would only begin two years after completing the National Youth Service Corps (NYSC) and when beneficiaries are employed, with deductions set at 10% of their salary.
The commissioner, who named the NELFUND Managing Director, Efosa, a Edo name, meaning ‘He Who Brings Blessings,’ for passionately championing the loan scheme initiative across the three senatorial districts in Edo State and across the country, said Governor Monday Okpebholo-led government would leave no stone unturned to ensure its success.
Discussion about this post