Tag: Students Loan

  • Students Loan Calculated Move To Make Struggling Nigerian Students Perpetual Debtors – ASUU

    Students Loan Calculated Move To Make Struggling Nigerian Students Perpetual Debtors – ASUU

    The Academic Staff Union of Universities, ASUU, Calabar Zone has faulted the proposed Student Education Loan of the Federal Government describing it as a calculated move to make struggling Nigerian students perpetual debtors.

    Addressing a press conference in Uyo, Akwa Ibom State capital on Monday, the Zonal Chairperson of ASUU, Dr Happiness Uduk, said it was disheartening that the people who attended schools on scholarship, enjoyed meal subsidies, bursary awards among others were the ones making some of these obnoxious policies adding that the union would not relent in opposing such policies.

    Uduk in a statement jointly signed by the eight union Chairpersons reasoned that instead of giving loans for students’ education; FG could use the money for interventions in higher institutions.

    She added that such a move would bring about a positive turnaround of events that would make the institutions self-reliant with highly subsidized tertiary education in the country.

    Uduk said “It is disheartening that people who attended schools on scholarship, enjoyed meal subsidies, free laundry services and bursary awards are the same running our economy today. Their Children are on scholarships in the best foreign universities in the world but after siphoning our economy, they turn around to impose a strangulating Education Loan on taxpayers’ children so that they will be enslaved and remain indebted to the country forever.

    “They do not mind the devastating effect of this scheme on the country such as depression, suicide, and colossal loss of intellectuals.

    “To this end, we vehemently condemn the idea of Education Loans and state clearly that using the money for intervention in higher Institutions will bring about a positive turn-around of events that will make our institutions self-reliant with highly subsidized tertiary education in Nigeria.”

    The ASUU chairperson called on the Federal Government to come to a renegotiation table and reconvene a committee to review the agreement reached by ASUU leadership and Prof. Nimi Brigs-led Government committee with the view of adjusting the document according to the current economic realities to have an acceptable salary structure for university lecturers.

    She also condemned the indiscriminate proliferation of universities in Nigeria without adequate funding by both the Federal and state governments noting that the 2020 ASUU-FGN Memorandum of Action (MoA) which stressed the need to review the NUC Act to make it more potent in arresting the reckless and excessive establishment of universities be fully implemented.

    “We urge the President Tinubu-led administration to refrain from further proliferation of universities and rather consolidate on the already existing ones. What we need are universities that are adequately equipped and empowered to address the challenges confronting Nigeria not glorified schools,” She said.

  • 6 Steps To Take When Applying For Students Loan

    6 Steps To Take When Applying For Students Loan

    The Nation Newspaper

    Students in federal government-owned tertiary institutions will be the first batch of beneficiaries of the student loan scheme.

    The ecutive officer of Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, stated this on Monday, May 20, while unfolding the conditions would-be beneficiaries will be required to meet.

    The Nation reports that President Tinubu on April 3 signed into law the bill on the scheme in line with his electoral promise that no Nigerian student would drop out of school on account of lack of funds.

    Applying for a student loan can be a daunting task, especially with the numerous forms and requirements involved.

    However, with the right guidance, the process can be a smooth and straightforward one. In this essay, we will explore the step-by-step process of applying for a student loan, specifically through the NELFUND platform.

    Here is how to apply for a student loan in Nigeria

    1. The first step in applying for a student loan through NELFUND is to log into the loan application portal on the NELFUND website (www.nelf.gov.ng).
      2.Once on the website, navigate to the student loan portal and create an account or log in if you already have an existing account. Creating an account is essential as it allows you to save your progress and access your application at any time.
    2. Once you have logged into the portal, you will be required to provide certain documents to complete your application. These documents typically include:
      Joint Admissions and Matriculation Board (JAMB) admission letter,
      National Identification Number (NIN),
      Bank Verification Number (BVN).
      These documents are necessary to verify your identity, academic status, and financial need, which are crucial factors in determining your eligibility for a student loan.
    3. After gathering all the necessary documents, you can proceed to fill out the loan application form. The form will require you to provide personal details such as your name, contact information, and date of birth, as well as academic information like your course of study, institution, and level of study. Additionally, you will need to provide details about your financial need, including information about your income, expenses, and any other sources of funding you may have.
    4. After completing the application form, it is essential to review it thoroughly before submitting it. Check for any errors or missing information and make sure all the required documents are attached. Once you are satisfied with your application, you can submit it through the portal.
    5. After submitting your application, you will receive a confirmation email from NELFUND with further instructions. This email may contain details about the next steps in the application process, such as providing additional documentation or attending an interview. It is crucial to follow these instructions promptly to ensure that your application is processed efficiently.

    Applying for a student loan through NELFUND can be a straightforward process if you follow the steps outlined above. By logging into the loan application portal, creating an account, providing the necessary documents, completing the application form, and submitting it, you can increase your chances of securing the financial assistance you need to pursue your education.

    Remember to review your application carefully and follow any instructions given to you by NELFUND to ensure a smooth application process.