The Nigerian Education Loan Fund, NELFUND, has clarified that accessing student loans is voluntary, urging tertiary institution students to apply only when they genuinely need financial assistance.
The clarification was contained in a statement signed by the Fund’s Director of Strategic Communications, Oseyemi Oluwatuyi, in Abuja on Wednesday.
NELFUND said the scheme was designed to remove financial barriers to higher education and ensure that eligible students were not denied educational opportunities because of financial constraints.
It stressed that students who could afford their educational expenses were under no obligation to apply, adding that making the loans compulsory would contradict the purpose of the initiative.
The Fund urged tertiary institutions, student leaders and other stakeholders to provide accurate information and guide students who require financial assistance on how to access the facility.
It also explained that the loans were interest-free but came with repayment obligations under the Student Loans Act, advising prospective beneficiaries to understand the terms and conditions before applying.
NELFUND reaffirmed its commitment to ensuring that financial difficulties did not prevent eligible Nigerian students from pursuing higher education.
