By Folaranmi Ajayi
Despite availability of funds through the Nigeria Education Loan Fund, NELFUND, only a small number of students at Moshood Abiola Polytechnic, MAPOLY, in Abeokuta, the Ogun State capital have applied for the student loan scheme, the institution’s Rector, Dr. Adeoye Odedeji stated.
Speaking at the inauguration of the newly elected members of the Students Union Government (SUG) on Friday, Odedeji revealed that only 81 students out of an eligible 11,000 had registered for the loan, with just 26 qualifying after screening. He stated that the loans are intended to ease the financial burden of the beneficiaries.
Odedeji confirmed that the polytechnic had already started receiving credit alerts for the 26 students who were qualified, thereby covering their tuition fees for the next academic session. The Rector expressed concern that many students had not taken advantage of the initiative, which was designed to provide relief from the financial challenges of education.
“From our side, we sent about 11,000 depth data to NELFUND, but it was only 81 students who registered and applied. After screening, only 26 students were found to be qualified,” he said.
The Rector urged more students to apply for the loan, highlighting that the program was still available and designed to alleviate the stress of sourcing funds for school fees.
“NELFUND will also credit their bank accounts with maintenance allowances directly, which will not come through the school,” Odedeji added.
Meanwhile, the new SUG President, Prosper Oladele, has reassured students of his commitment to represent their interests adequately, promising effective and uncompromising leadership during his tenure.
The student loan initiative will is part of a broader federal government efforts to support education and with the aim to provide financial assistance to students across Nigeria.
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