The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr has described the University of Ilorin as the best university in Nigeria. This recognition came during the sensitisation programme organised to enlighten students about the opportunities and guidelines surrounding the new student loan scheme.
During the sensitisation exercise, the NELFUND team assured students that the loan is not a “slave contract,” but a structured support system designed to ease financial burdens while pursuing higher education.
Key highlights from the session include:
Students can apply separately for upkeep allowances and institutional loans depending on their needs.
Repayment is structured as 10% of the graduate’s income and only begins when beneficiaries secure employment and start earning.
In the unfortunate event of the borrower’s death, the loan is completely forgiven, as the scheme is designed to support only the living.
Students must reapply each academic session to remain beneficiaries of the scheme.
Newly admitted students (100 level) whose details have been officially provided by the institution will also be eligible to apply.
The NELFUND MD emphasized that the initiative was created to ensure that no Nigerian student is denied quality education due to financial constraints.
The University of Ilorin community welcomed the recognition as another testimony to its standard of excellence, while students expressed optimism that the scheme would relieve them of financial pressures during their academic journey.
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