A total of 2,973 students of the University of Ilorin (UNILORIN), Kwara State, have received financial support from the Nigerian Educational Loan Fund (NELFUND), helping them continue their academic pursuits despite financial constraints.
According to reports, over 10,000 students from the university applied for the education loan, which covers tuition and provides a monthly stipend.
Loan Disbursement and Impact
Vice-Chancellor Prof. Wahab Egbewole (SAN) confirmed that the university had received two tranches of the loan so far:
- ₦52,879,000 for 802 students in the first tranche.
- ₦219,407,320 for 2,171 students in the second tranche.
While appreciating the initiative, Prof. Egbewole urged NELFUND to streamline the disbursement process, particularly addressing challenges with the Remita payment system, which students have found difficult to navigate.
“There has been some back and forth regarding Remita, and I believe that NELFUND should address it to ensure smoother disbursement,” he stated.
Hope for More Funding
The UNILORIN Vice-Chancellor expressed optimism that NELFUND would release a third tranche, as more than 10,000 students had applied for the loan. He commended the federal government for launching the scheme, noting that it has prevented many students from dropping out due to financial hardship.
The initiative continues to play a critical role in bridging the financial gap in higher education, ensuring that no student is left behind.
