NELFUND: No Student Is Obliged to Borrow, Scheme Targets Those in Financial Need
…Fund Reaffirms Interest-Free Loans, Warns Beneficiaries Against Ignoring Repayment Obligations The Nigerian Education Loan Fund (NELFUND) has reiterated that its student loan scheme is strictly voluntary, assuring Nigerian students that those who can finance their education independently are not required to take out loans. The Fund said the initiative was introduced to ease the financial burden of higher education on eligible students who genuinely need assistance, rather than compel every student in Nigeria's tertiary institutions to become a borrower. NELFUND stated this in Abuja on Wednesday, October 21, 2026, in a statement signed by its Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi. The clarification comes as the Fund emphasised the importance of understanding the purpose of the scheme and making application decisions based on individual financial circumstances. According to NELFUND, the programme is designed to remove financial obstacles that prevent stu...