Student Loan: NELFUND Raises Concern Over Low Female Applications

The proportion of females obtaining loans at tertiary institution was not particularly high when compared to male, said the Nigerian Education Loan Fund.

Akintunde Sawyerr, the managing director of the Fund, said this in Abuja on Monday during the observance of International Women’s Day.

Oluwatosin Sanusi, Head of Investments and Funds Management at NELFUND, represented Sawyerr.

It is hardly encouraging, he said, as one in five applications for the school loan fund are from female.

“The NELFUND initiative is all about providing loans for students in tertiary institutions to pay for their fees and to take care of their welfare.

“There is also another part of the initiative which is the skill acquisition.

“It is underway, and it would also cover educational fees and fund purchases of equipment for entrepreneurship training.

“The skills acquisition programme places students on a monthly stipend, which is laudable; however, we have fewer women who are taking advantage of this initiative.

“Currently, we have a ratio of 4 to 1, which means for every four male applicants, we have just one female, which isn’t impressive,” he said.

In order to raise awareness of the program and entice female students to participate and reap the rewards of democracy, Sawyerr stated that NELFUND was collaborating with female stakeholders.

But he underlined that the program’s viability depended on debt repayment following graduation and employment.

According to Sawyerr, prompt repayment would enable the program to grow and serve more students at all government-owned universities.

He said that students at all levels in universities and polytechnics controlled by the federal government and the state may use the education loan fund.

“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.

She said that the Federal Government was committed to gender equity and had invested in gender-balanced initiatives.

Ms. Choice Enebeli, the National President of Female Students of Nigeria, praised NELFUND for promoting the application and use of education loans by female students.

“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,” Uchenna said.

She promised to lead an awareness campaign on educational loans across the country for the benefit of female students.