BY ADA DIKE
As this administration marks one year in office in a matter of days, one laudable feat that will go down in history is the student loan scheme, which is expected to grant access to children of the poor to acquire higher education.
This scheme which has been signed into law will interestingly kick off on May 24, 2024, when the portal www.nelf.gov.ng official opens.
But how does one qualify for this loan? Applicant income or family income must be less than N500,000 per annum; Applicant must provide at least two civil servants as guarantors: of not less than level 12 years in service; or a Lawyer with at least 10 years post-call experience; a Judicial officer; or a Justice of Peace.
According to the selection criteria, an applicant must be a Nigerian and must be a bona fide student of higher institution of learning in Nigeria, in addition to qualifying for financial inclusion and having an acceptable academic performance.
Applicants must also be undergraduates, currently studying in a tertiary institution, or applying for the first time.
Those applying for second, master or doctorate degrees are not eligible for the loan. On the application portal, applicants will be required to provide basic personal data such as the national identification number (NIN), bank verification number (BVN) and JAMB number which will be in their digital records for seamless verification.
It is pertinent to note that the loan will be disbursed directly to the schools through NELFUND’s single treasury account at the Central Bank of Nigeria (CBN) without any intermediary, such as commercial banks and finance houses.
What does this mean for the Tinubu’s Renewed Hope Agenda?
The management of Nigerian Education Loan Fund (NELFUND) led by its Managing Director, Mr. Akintunde Sawyerr, who has officially announced May 24, 2024 as official date for the opening of portal for student loan applications believes this marks a significant milestone in the commitment of President Bola Ahmed Tinubu (GCFR) to fostering accessible and inclusive education for all Nigerian students.
This was disclosed in a statement signed by Media and Public Relations Lead,
Nigerian Education Loan Fund (NELFUND), Nasir Ayitogo on Thursday, May 16.
The statement reiterated that through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
“The portal provides a user-friendly interface for students to submit their loan applications conveniently,” Sawyerr said.
He encouraged all eligible students to take advantage of the opportunity to invest in their future and contribute to the growth and development of the nation.
“Students can access the portal on https:nelf.gov.ng to begin application.
“For more information and assistance, please contact NELFUND via email on info@nelf.gov.ng or contact us via our social media handles,” he said.
Reacting to the latest news about the portal opening,
Reacting to the latest news on the students loan, a social critic Isah Unongo, is of the opinion that some people don’t understand it well regarding to students loan scheme
In his words: You will pay for your registration depending on the course and university you are from N50,000 to N300,000.
Additionally, you will pay for tuition; the fee depends on the course you are studying.”
He further said that: “Before this Tinubu Government, tution fee was free, but now, I will collect loan to pay for tution fee.”
Observers believe that if Tinubu’s administration can reduce the number of out-of-school children, ensure that the demands by the Academic Staff Union of Universities (ASUU’) are met to checkmate strike, make the students loan accessible to all eligible ones that need it and ensure that schools are safe and conducive for learning, his government will be rated as the best in tackling challenges in education sector.
Looking back at the past months of Tinubu’s government, there have been policies that have renewed the hopes of students towards hitch-free education.
President Bola Tinubu on Monday, launched a campaign to promote inclusive education, skill development and gender equity.
Tagged: “We Are Equal,” the campaign, according to its organisers, is an initiative of the Organization of African First Ladies for Development (OAFLAD) which has been launched in 15 African countries in different iterations, focusing on health, education, economic empowerment and gender-based violence.
This was revealed in a press statement signed by the Special Adviser to the President, (Media and Publicity), Chief Ajuri Ngelale.
Championed by the First Lady, Senator Oluremi Tinubu (CON), the Nigerian component of the programme, according to the statement, is tagged: “Education as a Powerful Tool for Change.”
Speaking at the launch of the campaign at the State House, President Tinubu eulogized the commitment of African First Ladies, as members of OAFLAD, to advance gender equality and narrow the gender gap across the continent.
“This campaign holds significant importance for us in Africa. I, therefore, congratulate you all, particularly my dear wife, Senator Oluremi Tinubu, the First Lady of Nigeria, who has chosen education as a primary tool to champion this campaign nationwide.
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“The focus of the launch of this campaign in Nigeria, ‘Education as a Powerful Tool for Change’ is critical for Africa’s development, if we are to attain gender equity and ensure equal opportunities for all.
“We must continue to create opportunities for all our children to access quality education without leaving anyone behind, particularly the girl child. We must engender a society where everyone has the same opportunities, regardless of who they are, because doing that leads to a stronger and more peaceful society for all,” the President said.
He noted that the launch of the campaign in Nigeria coincides with the re-introduction of the Alternative High School for Girls advanced by the First Lady, adding that this initiative offers a second chance to young girls, who have dropped out of school, to continue their education and fulfill their dreams and aspirations.
“I am happy to note that the foundation stone of one of the schools was recently laid in Osun State, in western Nigeria, by the First Lady. More schools are underway across the country, supported by state governments, the federal government through the Universal Basic Education Commission (UBEC), and other development partners.
“As governor of Lagos State, before I became President of Nigeria from May 29, 2023, I witnessed first hand, how societal challenges, such as unwanted teenage pregnancy, domestic violence, human trafficking and drug addiction can obstruct the promising future of young girls.
“Indeed, the re-introduction of Alternative High School for Girls by the First Lady of Nigeria must have received inspiration from the successful implementation of a similar initiative in Lagos State during my tenure as governor,” the President said.
President Tinubu emphasized that education is the cornerstone of national development and that when girls are empowered to pursue their dreams, communities thrive, economies prosper, and nations succeed.
He maintained that it is therefore, incumbent on all stakeholders to continue to take bold and decisive actions to eliminate the structural inequalities that hold women back on the continent.
“We must be conscious of the fact that the empowerment of women and girls is essential to achieve each of the United Nations’ Sustainable Development Goals. We must work together to promote laws and policies that protect and promote women’s rights, invest in girls’ education and skills development, and create economic opportunities that are accessible to all.
“For us in Nigeria, the full operationalization of the Student’s Loan (Access to Higher Education) Act is key to achieving these goals as it will ensure that all young people have unhindered access to education.
The President also said his administration will continue to work to end gender-based violence and increase learning opportunities for girls, in safe and conducive environments, adding: “These measures will enable more women succeed in different vocations and properly shape their future endeavours, from politics to engineering, science, technology, sports, and the creative economy.”
President Tinubu reaffirmed his commitment to ensuring that no Nigerian child is excluded from quality education that prepares women and girls to lead and bring positive change to communities.
“Let us carry forward this campaign, which promises to gift an educated girl-child the potential to bring the necessary change and transform African communities for the better,” he stated.
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