by Folaranmi Ajayi
The Federal University of Health Sciences, Ila Orangun, in Osun State has confirmed the receipt of N7,448,000 as payment for the first batch of the National Education Loan Fund, NEL. This fund has been disbursed to 29 students of the institution under the federal government initiative.
The NEL Student Loan, a scheme aimed at providing financial support to Nigerian students, was initiated to ease the financial burden of higher education on Nigeria students at the higher institution s of learning.
The Federal University of Health Sciences is one of the first Osun State institutions to benefit from this initiative, signifying a significant boost for students in need of assistance.
According to school authorities, the loan covers tuition fees and other related expenses, ensuring that students can continue their education without financial constraints. The school administration praised the initiative, emphasizing its positive impact on access to quality education.
The NEL Fund is part of the federal government’s broader strategy to promote education and reduce dropout rates, especially among students from low-income families in the country.
A copy of the disbursement obtained by our reporter, acknowledging the first batch was signed by the Vice-Chancellor of the institution, Professor Akeem Olawale Lasisi on October 10, 2024
It is expected that more Osun institutions will follow suit in the coming months as the loan disbursement process continues nationwide.
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