Nigerian Foreign Students Excluded from Loan Scheme
The Nigerian Education Loan Fund (NELFUND) stated that the newly introduced student loan scheme excludes Nigerian students studying abroad. NELFUND’s Managing Director, Akintunde Sawyerr, disclosed this information on Friday.
Access to Higher Education Act Signed
President Bola Tinubu signed the Access to Higher Education Act, 2023, into law on June 12. This legislation aims to provide interest-free loans to underprivileged students attending Nigerian tertiary institutions. The initiative aligns with Tinubu’s campaign promise to improve education funding. Dele Alake, a former member of the Presidential Strategy Team, emphasised the law’s significance in making education more accessible.
Extension of Loans to Skill-Development Programmes
After a briefing from NELFUND, led by Dr Yusuf Sununu, the President directed the Fund to extend interest-free loans. Despite initial delays, the scheme attracted significant interest, with 30,000 students registered and 60,000 individuals signed up online.
Recent Incident Highlights Scheme’s Limitations
However, a recent incident highlighted the scheme’s limitations. On May 22, 2024, Teesside University expelled a group of Nigerian students for difficulties paying tuition fees, per the BBC. The students reported that the naira’s devaluation significantly hindered their ability to meet financial obligations, breaching visa sponsorship requirements.
Exclusive Focus on Students in Nigeria
Sawyerr confirmed that the loan scheme is exclusively for students studying within Nigeria. “Nigerians in Diaspora cannot benefit from the student loan. Nigerians schooling in the country are those we want to help. The law does not allow the FG to give loans to Nigerians studying abroad,” he stated.
Criticism and Concerns
Critics argue that excluding Nigerian students abroad shows the scheme’s failure to meet all students’ educational needs. Adaramoye Lenin stated that the government avoids funding public education by shifting the financial burden onto students.
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