Edo State Polytechnic has announced the suspension of its policy requiring students to present proof of fee payment during examinations for those applying for student loans through the Nigeria Education Loan Fund (NELFUND)
This decision was announced by the institution’s rector, Sylvester Omoruyi, during a sensitization program organized by NELFUND.
The NELFUND loan scheme is a federal government initiative aimed at providing financial support to students in tertiary institutions across Nigeria. The scheme provides coverage for school fees and upkeep allowances, easing the financial burden on students and their families.
The suspension of the fee payment policy is expected to have a significant impact on students at Edo State Polytechnic. Many students rely on the NELFUND loan scheme to finance their education, and the suspension of the policy will provide them with much-needed relief.
The Managing Director/Chief Executive Officer of NELFUND, Akintunde Sawyerr, expressed concern that the polytechnic was yet to submit student data to formally kickstart the registration process for the scheme. Sawyerr urged the institution to take advantage of the new registration cycle for the 2024/2025 academic session by ensuring students massively register for the scheme.
The Edo State government has expressed readiness to collaborate with NELFUND to improve the scheme’s impact in Edo State. Commissioner for Education, Dr. Paddy Iyamu, stated that the state government is committed to ensuring that every Edo child has access to education. He noted that the NELFUND loan scheme is a valuable tool in achieving this goal.
The NELFUND loan scheme provides numerous benefits to students, including:
– *Financial Support*: The scheme provides coverage for school fees and upkeep allowances, easing the financial burden on students and their families.
– *Increased Access to Education*: The scheme increases access to education for students who may not have been able to afford it otherwise.
– *Reduced Drop-out Rate*: The scheme helps to reduce the drop-out rate among students, as they are able to complete their education without financial constraints.
The suspension of the fee payment policy by Edo State Polytechnic is a welcome development for students applying for the NELFUND loan scheme. The scheme provides valuable financial support to students, increasing access to education and reducing the drop-out rate. The Edo State government’s commitment to collaborating with NELFUND to improve the scheme’s impact in Edo State is also commendable.