Nigeria faces a peculiar significant challenge with out-of-school children estimated to range from 18.3 million to 18.95 million. According to the United Nations Children’s Fund (UNICEF), the 18.3 million includes 10.2 million children out of primary school and 8.1 million out of Junior Secondary School (JSS).
Aside the insurgency in the North-East and banditry in the North-West regions of the country that have caused a significant rise in the number of out-of-school children, underfunding of the educational sector also contributes to the challenge.
To change the narrative, the Federal Government under President Bola Ahmed Tinubu has taken some deliberate steps, one of which is the launch of the Nigerian Education Loan Fund (NELFUND) in 2024. NELFUND provides financial assistance to students in Nigerian tertiary institutions through flexible repayment, interest-free loans for tuition fees and upkeep allowances with a mission to increase access to education and reduce financial burden on students and their parents.
Sharing personal stories about the impact of the loan on their education with our correspondent, the beneficiaries across Nigeria’s six geo-political zones, described it as a game-changer. They commended President Tinubu for the initiative, affirming that it has significantly removed their financial barriers.
Samuel Udeh from the University of Uyo (UNIYO) and Chiamaka Oshite, University of Cross River State (UNICROSS); Aisha Falalu, a student at Umaru Musa Yar’adua University, Katsina (UMYUK), and Khadija Sonibare, from the University of Ibadan (UI), said the loan scheme is a lofty initiative. According to them, the impact of the loan includes helping them to overcome financial challenges, support them towards achieving their academic goals, as well as keep them focused on their dreams and future aspirations.
Udeh, a 200-Level History and International Studies student at UNIUYO, said he applied for the student loan when faced with a financial challenge in his second year. ‘That was when I entered my year 200 because I didn’t have people to pay my fees. NELFUND has helped me a lot. I can do some major things concerning my education, like paperwork and other little payments to be done. So, it has actually helped me a lot.”
He added that from the monthly upkeep allowance paid by NELFUND, he also makes little savings. ‘I’m saving part of the money I’ve been receiving; I’ve been saving some,” he said enthusiastically, stating further that the loan has eased the financial burden on his parents. ‘It has eased their stress in providing for my school fees and all that,” he stated.
Oshite, a 400-Level Mass Communication student at UNICROSS, echoes this sentiment, ‘I faced financial challenges before I applied for the NELFUND loan. At that point I had not paid my school fees. So, when NELFUND was introduced, I felt the need to apply for it and it actually did help. It has really influenced my education positively because it has helped me in paying my fees, buying textbooks; it has saved cost for me so I don’t even have to worry about my future fees.’
She asserted that on many occasions, the loan has come handy at the nick of critical needs. ‘There was this particular time we were asked to get a textbook and the deadline was very near, because they didn’t give us much time. So during that period, I was receiving monthly upkeep and the deadline of paying the money was two days ahead, and they paid me that evening; so it helped me,” she stated.
For Falalu, a 200-level Biology student at Umaru Musa Yar’adua University, Katsina, with the monthly upkeep, she doesn’t have to worry about out-of-pocket expenses anymore. ‘It has influenced me in so many ways because by receiving 20k monthly, it helps me with handling little things I need to sort out,” she testifies, adding, that she does not bother her parents for many things she could easily cater for by herself.
Echoing the same sentiment, Khadija Sonibare, a 500-Level, Pharmacy student at the University of Ibadan, said she applied for the student loan when her dad had some financial challenges which affected prompt payment her school fees.
‘The main person that sponsors my academic journey is my father and lately, paying my schools has not been so easy. Aside that, meeting the financial needs of other aspects of my life, and getting allowance is not too easy. So, the loan has reduced the financial burden from the person sponsoring my education. And for me too in a way, I’ve been able to concentrate more because I don’t really have to think of budgeting for school fees, because I know for sure there is a place where money will be coming from. The allowance too has been helping. It’s just making me more concentrated and more focused without bothering my dad about getting money for school,” she stated.
They praised NELFUND for the seamless registration/application processes up to the point of receiving payment for tuitions and upkeep allowances. Udeh said, ‘Yes, it was very smooth.” Oshite corroborated, ‘No difficulty at all. It took months for it to be approved, but it was worth it,’ while Falalu added, ‘It was very smooth. I signed in and they verified it in no time, and then approved in no time.’
Sonibare affirmed the integrity of the processes put in place by NELFUND thus: ‘NELFUND has our information already. When I was trying to apply, they had contacted JAMB. They already have my JAMB information; they have information from UI, so there is no way you can falsify information; so that alone is commendable on NELFUND’s part. I will say it’s seamless because it (money) was paid directly into the school’s wallet. I just pay from there.”
The NELFUND loan scheme has not only helped the students financially but has also given them the confidence to pursue their dreams and future aspirations. Sonibare said, ‘I really want to use the skills gathered here in advancing the healthcare sector of the country. I’m not someone that is influenced by the ‘japa’ syndrome; so I’m actually interested in the growth of this country.’
Udeh, who aspires to be a diplomat, looks ahead to build a global career, said: ‘I want to be a diplomat, so that’s why I’m studying history and international studies. I want to travel around the world and learn new languages and stuff like that.”
On her part, Oshite wants to be a media entrepreneur, employer of labour and a philanthropist so that she can give back to society. ‘After my graduation, I would like to open a radio station where I will employ students studying mass communication or related courses, so I can use it to create employment opportunities for people. If financially stable, I can set up a scheme like NELFUND to help students,” she enthused.
The beneficiaries encouraged fellow students who have yet to apply for the loan, to seize the opportunity to fund their education without financial stress. Oshite said, ‘I would like to encourage other students to apply for it so that they can enjoy the benefits. I think they (NELFUND) are doing great because they are helping most students so much. Most students don’t have people that are paying their fees but NELFUND is actually giving them hope of graduating from the university without thinking much of how they will pay their fees. It actually helps students a whole lot and it’s a gateway to education, we’re very grateful.”
Udeh urged judicious use of the loan, saying, ‘If you apply for the loan and get it, make sure you do something productive with the money which NELFUND provides,” he counseled while advocating for the continuity of the loan scheme. ‘If NELFUND could continue doing this, it would enable people to go to school and come out better. People will have the opportunity to go to university and improve their education.”
Falalu quipped: ‘I want to share this message to anyone who is yet to apply that they should apply because NELFUND is a reliable loan that helps every student, and it’s very cooperative, so they should apply.” She commended NELFUND for supporting students: ‘There are so many things like supporting the students financially. It’s helping their studies. I think NELFUND is doing the best it can to help the students.”
Sonibare puts it, ‘It’s a good scheme to improve the financial status of students. My advice is to seize the opportunity, because this is a golden opportunity given by the Federal Government to reach students, to ease the financial burden on us. I advise any student I know to apply for the loan. Even if your parents are giving you a little, it’s a way to beef up the money. It will relieve them of any kind of financial stress.”
The testimonials from these NELFUND beneficiaries demonstrate the positive impact of the loan scheme on the lives of Nigerian students. By providing financial assistance and empowering students to achieve their dreams, NELFUND is helping to shape the future of the country. We urge other students to take advantage of this opportunity and apply for the NELFUND loan.