The Nigerian Education Loan Fund (NELFUND) has expressed concerns over the low number of female applicants for its education loan program.
According to NELFUND’s Managing Director, Akintunde Sawyerr, only one out of every five loan applications is from a female student, which is “not encouraging”.
The NELFUND initiative aims to provide loans for students in tertiary institutions to cover tuition fees and welfare needs. The program also includes a skills acquisition component, which provides a monthly stipend and covers educational fees and equipment purchases for entrepreneurship training.
Despite these opportunities, the participation of female students remains low, with a ratio of 4:1 male to female applicants. NELFUND is working to address this issue by partnering with women stakeholders to create awareness and encourage female students to apply.
The Minister of State for Education, Dr. Suwaiba Ahmed, emphasized the importance of gender equity in education. “Achieving gender equity requires bold, swift, and decisive steps, and we cannot afford to wait. So, we must act now to break barriers and create opportunities for women and girls,” Ahmed said.
The National President of Female Students of Nigeria, Ms. Choice Enebeli, commended NELFUND for advocating for female students and promised to lead an awareness campaign on educational loans across the country. “Women’s rights are human rights, and we must continue to strive for a world where women and girls have equal access to education, healthcare, economic opportunities, and leadership positions,” Enebeli said.
To apply for the NELFUND education loan, students can visit the NELFUND website and fill out the application form. The application process typically involves submitting personal and academic information, as well as providing documentation such as admission letters and student identification cards.
The NELFUND education loan offers several benefits to students, including:
- Low Interest Rate: The loan has a low interest rate, making it affordable for students to repay.
- Flexible Repayment Terms: The loan has flexible repayment terms, allowing students to repay the loan over a period of time.
- Opportunity for Skills Acquisition: The loan also provides an opportunity for students to acquire skills and entrepreneurship training.
The NELFUND education loan program is an initiative aimed at providing financial assistance to students in tertiary institutions. However, the low number of female applicants is a concern that needs to be addressed. NELFUND is working to create awareness and encourage female students to apply for the loan. By empowering female students, we can create a more equitable society where everyone has access to education and economic opportunities