Edo, NELFUND partner on student loan

Edo, NELFUND partner on student loan.

Edo State Government has announced partnership with Nigerian Education Loan Fund (NELFUND) to extend its services to students in the state-owned tertiary institutions.

The State Commissioner for Education, Dr. Pally Iyamu, disclosed this in a statement on Monday.

He described the partnership as a bold step to make tertiary education accessible and affordable to Edo citizens.

According to him, the partnership will guarantee all Edo students access to university and tertiary education without paying school fees immediately and will also give them access to a monthly stipend meant to offset their expenses, while schooling.

He, therefore, called on students across the various tertiary institutions in the state to take advantage of this great initiative by the state government.

Iyamu who stressed the state government’s resolve to lessen the financial burden and obligations on parents, said the partnership will serve as a big relief to parents, who before now have to cough out hundreds of thousands of naira for their children‘s school fees.

This partnership is expected to help checkmate incidences of students dropout and other hindrances to attaining higher degrees due to financial restraint.

NELFUND, an education loan scheme initiative of President Bola Tinubu’s administration, provides interest-free loans to eligible Nigerians for higher education, vocational training and skills acquisition.

Students under the scheme also get ₦20,000 monthly stipend. Repayment is expected to start two years after completion of NYSC.