By Egena Sunday Ode
The Managing Director of the Nigerian Education Loan Fund (NELFUND) Akintunde Sawyer, has disclosed that southern students are refraining from applying for loan because they doubt the viability of the scheme.
He said, on the contrary, that more students have applied for the loans in the North because of better coordination by tertiary institutions in the region.
Briefing newsmen after the launch of the disbursement of loans to applicants by President Bola Tinubu at the Presidential Villa, Abuja on Wednesday, Sawyerr however noted that awareness is now being ramped up in the south about the scheme, hoping that student in the region will embrace it in full when they see that disbursement is in progress.
He also reveled that more university students have applied for the loan than students of other tertiary institutions such as polytechnics and colleges of education.
The Managing Director explained why private institutions have been excluded from the scheme, saying that because they charge more expensive school fees, if government provide funds for them, it will be unable to meet up with the expectation of the initiative.
Asked to provide data on spread of the applications, Sawyerr stated: “The zones with the highest and the segments of the institutions with the highest, I can say to you that institutions in the north of the country have been very proactive at supporting and helping their students and in providing their data to us.
“So, that’s where the leaning is currently. But that’s to be expected because they seem to be very well organized in terms of networking in the northern part of the country.
“In the southern part of the country, there’s growing awareness and there’s growing interest. I think there’s been a lot of skepticism, generally and I think the most skeptical parts of the country is in the south, they question everything; is it true? Is it real? Is it a scam?
“And I think what you witnessed today with us actually starting this disbursement programme is to say that ‘this is not NO FUND. This is NELFUND.’
“We’re trying to ensure that people know that this is not a trick, it’s not a game. Mr. President has backed this with cash and we’re going to disburse that cash.
“So, I think we’ll see the skepticism that you can find mainly in the southern part begin to disappear when we start paying out.
“In terms of the three levels of institutions, the universities are the ones with the highest demand for the loans, then I think it’s followed by the polytechnics and then the teacher training colleges, and I think it’s probably going to remain that way, the bias is going to remain that way.”
