Only 4% of UNIZIK students apply for FG loan despite huge benefits

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By Madu Obi

Nnamdi Azikiwe University, (UNIZIK), Awka, Anambra State, has expressed worry over the poor response of its students to the Nigeria Education Loan Fund (NELFUND) scheme, lamenting that only about four percent of its student population have so far applied.

Chairman of the university’s NELFUND committee, Professor Stephen Ufoaroh, said in a memo that out of over 66,000 students’ data already uploaded to the NELFUND portal, only a fraction has taken the next step to register.

The loan scheme, designed specifically for indigent students, comes with zero interest rate and no collateral and the beneficiaries stand to enjoy direct payment of their tuition fees to the university, as well as a monthly upkeep allowance of N20,000 into their bank accounts.

Describing it as disheartening, Ufoaroh said that the institution has fulfilled its own obligation, adding that it is left for students to seize the opportunity.

He lamented that students from South Eastern states have not shown enthusiastic interest in the programme, warning that they could be denying themselves the chance to complete their studies with less financial stress.

“We must not allow this opportunity to pass us by. This is a national initiative to help students go through school. Let’s register now and worry about repayment modalities later,” he appealed.