By: Arowoogun Abiola Ade-Ire

Succour is now on the way for teeming Nigerian youths who struggle with their education as a result of dearth of finance and support as President Bola Ahmed Tinunu has ascented to the National students loan making it becoming a law and policy of the Federal government.
The student loan is part of the implementation of the Access to Higher Education Act, 2023.

The Act, popularly known as the Students Loan Bill seeks to provide loans for indigent Nigerian students to pay fees in Nigerian tertiary institutions.

The Act establishes the Nigerian Education Loan Fund which is expected to handle all loan requests, grants, disbursement and recovery of the loans provided through an agency christened NELFUND
NELFUND, according to the Act, is to be funded from multiple streams and will engage in other productive activities.

It will be recalled that the Executive Secretary of NELFUND had earlier declared that the loan will be launched and become effective on 14th March this year. However, the launch could not hold, obviously for reasons connected to the final signing into law of the bill which was undergoing amendments in the house.

It is hoped therefore that nothing will delay the execution of the law scheme now that the President has signed the bill and everything needed to be put in place ahead of the take-off of the scheme is now in place according to Akintunde Sawyer.

Akintunde Sawyer, Executive Secretary of NELFUND says all is ready for the Education Loan scheme to take off

Meanwhile, while Some people are pleased with the report of signing into law, the National Education Loan scheme, as it provides hope and succour, many other Nigerians are skeptical and do not hesitate to show their reservations.
While some decry the level of favouritism and nepotism the scheme will be subjected to, others do not believe in the scheme as they think the poor people or the masses because of whom the scheme is established will not be able to access it. Others fear that unnecessarily requirements may make the loan not available to the masses.
Others are also of the opinion the scheme will not be effective.

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