The Nigerian Education Loan Fund (NELFUND) has clarified why postgraduate students are currently ineligible for the Federal Government’s student loan scheme.
Speaking on a live programme over the weekend, NELFUND’s Managing Director, Akintunde Sawyerr, stated that the initiative primarily aims to support students pursuing their first degree. However, he hinted that postgraduate students might have access to the facility in the future.
“Postgraduate students can’t apply for this loan,” Sawyerr explained. “We have many Nigerians still trying to take their first step in tertiary education, and our focus is on them.”
He emphasized that the priority is preventing secondary school graduates from missing out on higher education due to financial constraints. “We also want to stop students from dropping out at 200, 300, or 400 Level because of financial difficulties. That’s our main concern for now. Once we have helped these students, we can then consider postgraduate applicants,” he added.
Over 271,000 Students Benefiting from the Scheme
Sawyerr revealed that since the programme’s launch in May 2024, over 271,000 Nigerian students have received financial support.
Providing an update, he disclosed that as of March 22, 2025, out of 521,000 registered students, around 438,000 have submitted their applications for the loan.
“Nigerian students are responding positively to the initiative,” he said. “As more disbursements happen, trust in the system continues to grow.”
He also praised President Bola Tinubu’s leadership, stating, “One of the key things happening now is that the President is restoring trust in the government. Students can see this initiative is real and accessible to all.”
No Special Connections Needed to Access Loans
Sawyerr stressed that the loan process is completely transparent and accessible to all eligible students without favoritism.
“The President has insisted that this programme must work fairly. You don’t need to know anyone to get this loan—no special connections, no backdoor access. We are fully committed to democratizing education,” he affirmed.
Loan Repayment Plan in the Works
Although loan repayments have not yet begun, the Managing Director assured that NELFUND is developing a robust repayment structure to ensure smooth and timely repayments when due.
