Student loan: NELFUND laments low number of female applicants
NELFUND laments low number of female applicants
NELFUND laments low number of female applicants
The Nigerian Education Loan Fund (NELFUND) has expressed disgust at the low number of female applicants for the student loan.
According to the Fund, the ratio of females in tertiary institutions accessing the loans compared to males was not encouraging.
The Fund’s Managing Director, Akintunde Sawyerr, disclosed this in Abuja during the International Women’s Day celebration on Monday.
Sawyerr, represented Oluwatosin Sanusi of NELFUND, noted that only one in five education loan applicants is female, calling the ratio unimpressive.
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“The NELFUND initiative is all about providing loans for students in tertiary institutions to pay for their fees and to take care of their welfare,” he said.
“There is also another part of the initiative which is the skill acquisition. It is underway, and it would also cover educational fees and fund purchases of equipment for entrepreneurship training.
The skills program offers a monthly stipend, but few women take advantage of it.
“Currently, we have a ratio of 4 to 1, which means for every four male applicants, we have just one female, which isn’t impressive,” he said.
Sawyerr said NELFUND is collaborating with women stakeholders to raise awareness and encourage female students to participate.
He, however, stressed that loan repayment after graduation and employment was crucial for to sustain the programme.
Sawyerr explained that prompt repayment was also crucial for expansion of the programme and would help more students across all government-owned institutions to benefit.
He also disclosed that the education loan fund was accessible to students at various levels in universities and polytechnics within federal and state-owned institutions.
According to him, the skill acquisition loan was not limited to tertiary students.
The Minister of State for Education, Dr Suwaiba Ahmed, lauded the federal government’s initiative.
She encouraged students to maximize the funds to ensure uninterrupted studies due to financial constraints.
She noted that the girl-child must optimise all opportunities presented, in order to break barriers and attain desired dreams and aspirations in life.
“Achieving gender equity requires bold, swift and decisive steps, and we cannot afford to wait.
“So, we must act now to break barriers and create opportunities for women and girls,” Ahmed said.
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NELFUND laments low number of female applicants
