The Nigerian Education Loan Fund (NELFUND) has announced plans to extend its student loan scheme to include learners enrolled in private tertiary institutions, marking a significant shift in the government’s approach to higher education financing.
According to NELFUND’s management, the rollout for private university students is expected to commence in the second phase of the loan disbursement process, following the initial implementation for public university, polytechnic, and college of education students scheduled to begin in the coming weeks.
“We understand that students in private institutions face similar financial pressures as those in public ones,” a NELFUND spokesperson said during a media briefing in Abuja. “Our long-term vision is to make higher education accessible to all eligible Nigerians, regardless of the institution they attend.”
The announcement follows months of speculation about whether students in private universities who often face significantly higher tuition fees would benefit from the landmark loan scheme, which was signed into law in 2023 to address the growing crisis of education affordability.
NELFUND clarified that the second phase will involve a comprehensive vetting process to include accredited private institutions, ensuring transparency and accountability. Specific dates for the phase two rollout have not yet been announced, but officials indicated it could begin as early as late 2025, depending on the success of the initial phase.
The student loan program, which is interest-free and repayable after graduation and gainful employment, has been widely praised as a step toward democratizing access to higher education. However, critics argue that the program must be managed carefully to avoid bureaucratic delays, corruption, and unequal distribution.
With the inclusion of private institutions on the horizon, stakeholders hope the loan scheme will help bridge the widening educational gap in Nigeria and empower more students to pursue their academic and career goals without financial hindrance.
“We’re optimistic that this initiative will lift a major burden off the shoulders of thousands of Nigerian families,” the spokesperson added.
source: dailytrust.com
