“NELFUND Loan Saves UNILAG Student from Dropping Out as Financial Hardship Threatens University Education”

“NELFUND Loan Saves UNILAG Student from Dropping Out as Financial Hardship Threatens University Education”

A student of the University of Lagos (UNILAG) has shared a personal account of how financial difficulties nearly forced him to abandon his university education before support from the Nigerian Education Loan Fund (NELFUND) helped him remain in school.

The student’s testimony highlights the growing importance of education financing schemes in Nigeria, where rising tuition, accommodation, transportation and living costs continue to place significant pressure on students and their families.

According to the account, the financial strain had reached a point where dropping out appeared to be a realistic possibility. However, access to the NELFUND student loan provided the assistance needed to continue his academic journey.

The experience reflects the broader purpose of the Federal Government-backed NELFUND scheme, which was established to reduce financial barriers to tertiary education and support students who may otherwise struggle to complete their studies.

The University of Lagos has previously held awareness programmes to educate students about NELFUND’s eligibility requirements, application procedures, loan conditions and potential benefits. The institution has also provided updates on the processing and reimbursement of excess loan disbursements to beneficiaries.

In June 2025, NELFUND officials said more than 6,000 UNILAG students had applied for the student loan scheme, while the university had tens of thousands of other eligible students who had yet to access the programme. The figures underscored both the demand for financial assistance and the need for greater awareness of available student-support mechanisms.

The UNILAG student’s account adds a human dimension to the ongoing national conversation about the impact of student loans on access to higher education. While beneficiaries have described the scheme as a lifeline, concerns have also been raised in different quarters about disbursement timelines, upkeep allowances and administrative processes.

For students facing financial hardship, however, stories such as this demonstrate how targeted education financing can help prevent economic difficulties from ending academic aspirations prematurely.

As Nigeria continues to debate the future of higher education funding, the experience of beneficiaries will remain central to assessing whether NELFUND is achieving its objective of making tertiary education more accessible and reducing financially driven dropouts.