The Nigerian Education Loan Fund (NELFUND) has clarified that accessing its student mortgage scheme is voluntary and never obligatory for college kids in Nigerian tertiary establishments, following a viral memo from an Enugu state-owned school directing college students to use for the ability.
The fund made the clarification in a press release issued on Wednesday, stressing that college students who don’t require monetary help are beneath no obligation to use for or entry the mortgage.
NELFUND mentioned the scheme was established to assist Nigerian college students meet the price of their schooling, take away monetary obstacles to increased schooling and promote equal entry to studying alternatives.
NELFUND explains goal of student mortgage scheme
According to the fund, making entry to the mortgage obligatory for all college students, no matter their monetary circumstances, would run opposite to the scheme’s basic goal.
- “The student loan scheme is a support mechanism, not an obligation,” NELFUND mentioned.
- “Students who do not require financial support are under no obligation to apply for or access the facility,” it added.
- The fund reaffirmed that the mortgage is interest-free and meant to assist beneficiaries overcome monetary difficulties related to pursuing increased schooling.
NELFUND additionally referred to as on tertiary establishments, student leaders and different stakeholders to offer correct details about the scheme and information college students appropriately, significantly those that want monetary help to proceed their schooling.
The fund reiterated its dedication to making sure that monetary hardship doesn’t forestall eligible Nigerian college students from pursuing their instructional aspirations.
NELFUND highlights student mortgage reimbursement phrases
However, it famous that beneficiaries are required to repay the loans in accordance with the provisions of the Student Loans Act.
NELFUND due to this fact suggested college students to grasp the phrases and situations of the scheme and make knowledgeable selections earlier than making use of.
- “Like every financial facility, it comes with repayment obligations in accordance with the provisions of the Student Loans Act,” the Fund mentioned.
- “Students are therefore encouraged to understand the terms and conditions of the scheme and make informed decisions before applying,” it added.
Enugu school makes NELFUND loans obligatory for college kids
NELFUND’s assertion comes on the heels of a memo from the Enugu State College of Education (Technical), Enugu (ESCET), that lately went viral and sparked public outrage over its directive making student mortgage functions obligatory for the 2026/2027 educational session.
The memo, dated October 6, 2026, and signed by the Acting Registrar, Patrick A. Aneke, acknowledged that it was obligatory for each student (each in NCE and Degree programmes) to enroll and entry the Nigeria Education Loan Fund (NELFund).
- “Consequently, all fresh and continuing Students are hereby required to visit the office of the College NELFund Desk Officer Dr. Rufina Agu and apply for the fund, for the 2026/2027 academic session,” the memo acknowledged.
- It additionally directed “all Deans/Directors, HODs (Academics) and the Student Union Government” to tell college students of the requirement.
More on NELFUND
NELFUND’s clarification comes because the Federal Government’s student mortgage scheme continues to develop, with eligibility necessities and reimbursement obligations remaining necessary issues for potential beneficiaries. Nairametrics reported in October 2026 that NELFUND had disbursed ₦372.62 billion to college students and tertiary establishments because the scheme’s portal opened in May 2024, with greater than 1.65 million functions processed.
Earlier, in February 2025, Nairametrics reported that beneficiaries have been expected to start repaying their loans two years after finishing the National Youth Service Corps (NYSC), topic to the relevant employment and reimbursement situations.
Nairametrics additionally reported in March 2025 that postgraduate college students have been ineligible for the Federal Government’s student mortgage scheme, which was designed to assist eligible college students pursuing their first diploma.
