NELFUND: Renewned Hope or Pitfall for Nigerian Students
Fawaz Adedeji Nigeria’s higher education system is a nationwide merger of over 600 public and private institutions, such as universities, polytechnics, monotechnics, and colleges of education. Amidst these, a question lingers on why only federal and state-owned universities, polytechnics, and colleges of education alone are the beneficiaries of NELFUND. Brief History of NELFUND The Student Loan Act (access to higher education) of 2023, which established the Nigerian Education Loan Fund (NELFUND), was enacted in April 4, 2024 under President Bola Tinubu’s administration, in a bid to forestall financial constraints for the Nigerian students, and foster a knowledge-driven economy in the higher learning institutions, through the provision of interest-free loan programme, whose portal surfaced online for applications in May 2024. According to the reimbursement policy of the loan, beneficiaries ar...