The Nigerian Education Loan Fund (NELFUND) has clarified that its student loan scheme is voluntary and not compulsory for all tertiary institution students.
In a statement issued by the fund, NELFUND confirmed that enrolment in its loan programme is optional. Students who wish to borrow to cover tuition fees, accommodation or other educational expenses can apply, but they are not required to do so by law or by any university policy.
The clarification follows reports that some students had been under the impression that the loan was mandatory. NELFUND reiterated that the scheme is designed to provide financial assistance to those who need it, rather than to enforce a universal borrowing requirement.
Applicants can still access the loan through NELFUND’s official application process, which involves submitting the required documentation and meeting the eligibility criteria set by the fund. Those who choose not to borrow are free to seek alternative funding sources, such as scholarships, private loans or personal savings.
Students who wish to learn more about the application procedure or the terms of the loan can visit NELFUND’s website or contact a local NELFUND office for further guidance.
<small>Source: Punch Nigeria — read the original story there.</small>