By Ijeoma Ikwueze

The Vice-Chancellor, Enugu State University of Science and Technology, ESUT, Prof Aloysius-Michaels Okolie has urged students of the university to make judicious use of the Nigerian Education Loan Fund (NELfund) provided by the Federal Government.

The VC gave the charge on Friday in Enugu during the South East sensitization visit by the NELFund to three tertiary institutions in Enugu – Enugu State University of Science and Technology (ESUT), University of Nigeria, Nsukka (UNN) and the Institute of Management and Technology (IMT).

The sensitization workshop held at the Moot Court Auditorium of UNN, Enugu Campus, had ESUT VC, UNN VC as well as IMT Rector in attendance. Other high profile individuals at the workshop include the Senior Special Assistant to the President on Community Engagement for South East, Barr Chioma Nweze; the Managing Director/Chief Executive of NELfund, Mr Akintunde Sawyerr, among others.

Delivering his speech, ESUT Vice-Chancellor commended the Federal Government for initiating the student loan fund adding that the the management of ESUT has put machineries in place to ensure seamless application by the students.

While charging the students to leverage on the opportunity, he noted that ESUT management
Has employed the services of computer experts to help the students in their applications.

“I want to commend the management of NELfund for this sensitisation in South East tertiary institutions. It is here that misconceptions will be corrected and students guided appropriately on how to apply for the loan.

“At ESUT, we encourage students to apply for the loan because this is their money. We have deployed the services computer experts to guide them in their application. I have no doubt, whatsoever, that this programme by the government will aid education at this level in the country,” he said.

Addressing the students from the three institutions, Barr Chioma Nweze urged them to make best use of the opportunity to actualise their educational dream. She explained that the application for the loan, which is interest free, is session based, that student can apply for each session.

She stressed that repayment of the loan takes effect two years after the beneficiaries have concluded their national youth service.

She explained criteria required for the application. “Students can apply using their JAMB registration number, matriculation number, BVN, NIN, no surety is needed. Outside the school fees, NELfund also gives ₦20,000 to ₦40,000 stipends for students’ upkeep. NELfund operates through any bank of the students’ choice,” she said.

Highlights of the sensitization workshop was disbursement of ₦5000 each to the first 100 students to arrive at the venue of the meeting. Barr Nweze who made the pledge prior to the commencement of programme, gave the students the money adding that the gesture was to encourage them for seeing the need to attend the programme.

ESUT Monitor can authoritatively report that NELfund has disbursed students loans to 59 institutions including five from the South East region.

Institutions from the South-East that have already benefited from the loan include: Federal Polytechnic, Nekede, Imo State; Ebonyi State University; Abia State University; Michael Okpara University of Agriculture, Umudike; and Alex Ekwueme Federal University, Anambra State, sharing ₦467 million among them.

According to a list obtained from the NELFUND, Alex Ekueme Federal University Ndufu, Ebonyi State, got N193,377,100; Michael Okpara University, got N71,016,220; Abia State University, had N12,469,5003; Federal Polytechnic, Nkede, Imo State, got N368,400; and Ebonyi State University students got N78,313,000.

A total of ₦50 billion was budgeted for the NELFund in the 2024 with a total of ₦2.1 billion already disbursed