The University of Benin has confirmed the receipt of N24.4m for 332 students for the Federal Government’s Student Loan.
This was contained in a letter signed by the Vice-chancellor of the institution, Prof. Lilian Salami and addressed to the Managing Director of NELFUND, Akintunde Sawyerr.
In the letter dated August 11, 2024, and addressed to the Managing Director of NELFUND, Akintunde Sawyerr, the VC acknowledged the receipt of the money while commending the Federal Government for providing the loan.
“I write to acknowledge with thanks the receipt of the sum of Twenty-Four Million, Four Hundred and Twelve Thousand, Five Hundred Naira (N24,412,500), being the payment of school charges and upkeep for Three Hundred and Thirty-Two (332) Students of the University of Benin who have applied for loan under the Nigerian Education Loans Fund Scheme.
“The University Management appreciates the Fund’s consideration of our students’ applications and assures you of our commitment to the academic success of these students.
“The University commends the laudable effort of the Federal Government to raise the standard of the students and the tertiary education system.
“On behalf of the University Management, please accept the assurances of the University’s highest regards,” she said.
The student loan scheme was set up by the President Bola Tinubu to help guarantee sustainable higher education and functional skills development for all Nigerian students.
So far, NELFUND disclosed that it has cleared a total of 108 tertiary institutions whose students can apply for the loan.