2,973 UNILORIN students got N272.28m NELFUND loan – VC
The Vice Chancellor, University of Ilorin, Prof. Wahab Egbewole (SAN), has said that a total of 2,973 students of the University of Ilorin have benefitted from the Nigerian Education Loan Fund.
According to the UNILORIN news bulletin, released on Monday, the institution received the funds in two tranches.
He disclosed that the university received a sum of N52,879,000 for 802 students in the first tranche and N219,407,320 for 2,171 students in the second tranche.
Egbewole, however, expressed the hope that NELFUND will provide a third tranche to cater for more students, adding that “The institution hopes to improve on the first two tranches as more than 10,000 students have applied for the NELFUND loan.”
The VC called on the management of NELFUND to streamline the loan disbursement process, citing challenges relating to the Remita payment system.
He said, “One key issue that students have raised is the difficulty with Remita. There has been some back and forth regarding this, and I believe that NELFUND can sit down to address it.”
On the impact of NELFUND on the students of the university, Egbewole praised the Federal Government for establishing the scheme with its objective of ensuring that no student is left behind due to financial constraints.
He noted that beyond covering tuition fees, the scheme also provides a monthly stipend to beneficiaries, thereby easing the financial burden on the students.
Egbewole noted that many students who might have dropped out of school due to financial difficulties have been able to continue their education- courtesy of NELFUND.
