The Nigerian Education Loan Fund says over 760,000 students have applied for the Federal Government’s interest-free education loan, with 400,000 already benefiting.
Managing Director Akintunde Sawyer, speaking at the University of Port Harcourt, explained that the loan covers school fees paid directly to institutions and provides ₦20,000 monthly upkeep to approved students.
Repayment starts two years after National Youth Service, with employers deducting 10% of salaries until fully paid.
Senior Presidential aide on Students Engagement, Asefon Sunday, said the scheme, alongside innovation hubs and renewable energy projects in universities, reflects President Tinubu’s commitment to quality education and youth empowerment.
