The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyer, has emphasized that Nigerian students do not need personal connections or political influence to access the student loan scheme. Speaking during a sensitization programme at Ahmadu Bello University, Zaria, on Tuesday, August 5, 2025, Sawyer clarified that any eligible student with a JAMB registration number and admission into a recognized institution can apply. He also highlighted that the loan is interest-free, and repayment only begins two years after the completion of NYSC if the beneficiary is gainfully employed.
Speaking on Tuesday, August 5, 2025, at a sensitisation programme on the student loan scheme held at Ahmadu Bello University, Zaria, Sawyer explained that applicants only need to have an access institution and a JAMB registration number to apply.
Delivering his presentation titled “Understanding the NELFUND Student Loan Scheme: Access, Application and Support,” he stated that the loan is completely interest free. According to him, repayment begins only if the beneficiary secures employment two years after completing the National Youth Service Corps. 
If one applies and dies eventually, the loan is forgiven; and if one does not get a job five years after completion of NYSC, the loan is also forgiven,” Sawyer said. He further explained that if the beneficiary gets a job two years after NYSC, NELFUND will direct the employer to deduct 10 percent of the salary and remit it to the fund.
The NELFUND boss added that in cases where the loanee loses their job before completing repayment, the deductions will stop until the individual secures another job. He encouraged Nigerian students to support NELFUND, noting that even those who do not intend to apply immediately should still register because circumstances might change.
