CALABAR – The University of Cross River State (UNICROSS), in collaboration with the Nigerian Education Loan Fund (NELFUND), has hosted a one-day awareness workshop aimed at promoting understanding of the Federal Government’s student loan initiative among students.
The event, held at the Department of Mass Communication auditorium, brought together key stakeholders in the education sector, including university management, faculty members, students, and NELFUND representatives.
Organised to sensitise students on the opportunities and application process of the NELFUND loan scheme, the workshop underscored the importance of the programme in easing financial barriers to education.
Speaking on behalf of the Acting Vice Chancellor, Professor Francisca Bassey, Professor Thomas Ojikpong commended the Federal Government for introducing the student loan scheme, describing it as “a lifeline for students facing financial hardship.”
She revealed that over N131 million had already been disbursed to 1,691 students of UNICROSS across three tranches. Despite this progress, she noted that only a small fraction of the student population had applied and urged more students to take advantage of the opportunity.
“These timely interventions have brought great relief to our students, many of whom faced the possibility of discontinuing their studies due to financial hardship. With this support, hope has been restored,” she stated.
Professor Bassey encouraged students to visit the university’s Directorate of Academic Planning and ICT to ease the application process, describing the current number of applicants as “negligible” compared to the total student population.
In his keynote address, NELFUND Managing Director, Mr. Akintunde Sawyer, provided an in-depth overview of the Fund’s objectives, operational structure, and eligibility criteria. He emphasised that the scheme was designed to promote inclusivity, equity, and access to higher education in Nigeria.
“Our goal is simple: no Nigerian student should drop out of school because of an inability to pay fees,” he said.
Mr Sawyer highlighted the student-friendly nature of the loan, noting that it is interest-free during the study period and becomes repayable only after a post-graduation moratorium, allowing beneficiaries time to secure employment and gain financial stability.
“The loan is not a burden it is a bridge. It is not a handout. It is a hand-up to ensure your dreams don’t end at the gate of your institution,” he said.
He also addressed eligibility concerns, clarifying that applicants must be Nigerian citizens enrolled in a recognised tertiary institution and must provide a guarantor, in accordance with the enabling law.
Sawyer reassured students of the simplified digital application process, supported by backend integration for faster processing and verification. He praised UNICROSS for its proactive support of the initiative and encouraged students facing difficulties to seek help from the university’s ICT and Academic Planning Directorates.
During an interactive session, students raised questions on repayment timelines, approval processes, and integration with school fee portals. NELFUND representatives provided reassurances and pledged ongoing transparency and support.
The workshop concluded with a call for broader awareness campaigns and stronger institutional collaboration to ensure the student loan initiative reaches its full potential nationwide.