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 faculty directing college students to use for the ability.
The fund made the clarification in an announcement 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 stated the scheme was established to assist Nigerian college students meet the price of their training, take away monetary limitations to greater training and promote equal entry to studying alternatives.
NELFUND explains function 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 function.
- “The student loan scheme is a support mechanism, not an obligation,” NELFUND stated.
- “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 greater training.
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 training.
The fund reiterated its dedication to making sure that monetary hardship doesn’t stop 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 circumstances of the scheme and make knowledgeable choices 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 stated.
- “Students are therefore encouraged to understand the terms and conditions of the scheme and make informed decisions before applying,” it added.
Enugu faculty 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 just lately went viral and sparked public outrage over its directive making student mortgage functions obligatory for the 2026/2027 tutorial session.
The memo, dated October 6, 2026, and signed by the Acting Registrar, Patrick A. Aneke, said 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 said.
- 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 vital issues for potential beneficiaries. Nairametrics reported in October 2026 that NELFUND had disbursed ₦372.62 billion to students and tertiary institutions for the reason that 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 begin repaying their loans two years after completing the National Youth Service Corps (NYSC), topic to the relevant employment and reimbursement circumstances.
Nairametrics additionally reported in March 2025 that postgraduate students were ineligible for the Federal Government’s student loan scheme, which was designed to assist eligible college students pursuing their first diploma.
