UNILORIN beneficiaries of ₦372.28bn NELFUND loan: Over 2,900 students supported, vice-chancellor reveals

DDM News

The University of Ilorin UNILORIN has received ₦372.28bn from the Nigerian Education Loan Fund (NELFUND) to support its students.

According to Diaspora digital media (DDM) reports, the vice-chancellor, Prof. Wahab Egbewole, confirmed that 2,973 students of the institution have benefited from the government’s student loan initiative.

The university received two separate disbursements from NELFUND to assist students facing financial difficulties in their academic pursuits.

The first phase provided ₦52,879,000 to 802 students, while the second phase disbursed ₦219,407,320 to 2,171 students.

This financial support is part of the ₦372.28bn allocated by NELFUND to assist students across Nigerian universities.

More than 10,000 students of Unilorin applied for the NELFUND loan to help them cover their educational expenses.

The university administration is hopeful that a third phase of disbursement will provide financial assistance to more students.

Prof. Egbewole stated that the institution is committed to ensuring that every student in need gets access to funding.

He expressed gratitude to the federal government for launching the NELFUND initiative to support financially disadvantaged students.

Despite the substantial disbursement, a significant number of students are still awaiting financial support from the loan scheme.

Egbewole urged NELFUND to release additional funding so that more students can benefit from the ₦372.28bn allocation.

He acknowledged the scheme’s importance in preventing students from dropping out due to financial constraints.

He emphasized that NELFUND not only covers tuition fees but also provides a monthly stipend to beneficiaries.

This additional financial support helps students meet their daily needs and focus on their academic work.

Prof. Egbewole praised the federal government for ensuring that no student is left behind due to financial hardship.

He highlighted the transformative impact of the ₦372.28bn NELFUND initiative on students struggling with financial difficulties.

The vice-chancellor noted that many students have continued their education because of the financial assistance provided by NELFUND.

He stressed the importance of expanding the scheme to accommodate more students facing financial difficulties.

However, Egbewole pointed out challenges in the disbursement process, particularly issues with the Remita payment system.

He stated that students have experienced delays and complications while accessing their funds through the Remita platform.

He called on NELFUND to streamline the payment system to ensure a smoother disbursement process.

The university administration is working closely with NELFUND to address these issues and improve the loan distribution process.

Egbewole reaffirmed Unilorin’s commitment to supporting students who rely on the ₦372.28bn education loan scheme.

He urged students experiencing difficulties with loan access to report their challenges to the appropriate authorities.

The vice-chancellor expressed optimism that the federal government will continue expanding NELFUND to support more students.

He encouraged eligible students to take advantage of the financial aid provided through the scheme.

The NELFUND initiative aims to reduce the financial burden on students and ensure equal access to higher education.

The ₦372.28bn allocated to the scheme demonstrates the government’s commitment to supporting education in Nigeria.

Egbewole emphasized that education remains a crucial factor in national development and should be accessible to all.

He called for continuous improvements in student loan policiesto enhance accessibility and effectiveness.

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