The Federal Government through the management of the Nigerian Education Loan Fund (NELFUND) has stated why students from private institutions and convicted inmates will not benefit from the Student Loan Scheme.
This is even as these categories of Nigerian students are exempted from applying for the scheme.
The Managing Director of NELFUND, Akintunde Sawyerr made this known on Wednesday at the University of Lagos (UNILAG), Lagos.
He insisted that the scheme is strictly for “indigent” students in public government institutions in the country.
Sawyerr stated this while speaking at an interactive session with journalists under the umbrella of the Education Writers’ Association (EWAN).
He, however, used the occasion to hint of President’s Bola Tinubu’s desire to have beneficiaries both from private and public institutions.
“Since the fund is truly for the indigent students, such categories of students could not be found in private tertiary institutions.”
He said: “I met with the President and he asked similar questions. This is because of his belief that every Nigerian child whose parents’ taxes form the sources of the loan should benefit.
“But we cannot say because the taxpayers are the funders and so the purpose should be defeated. Any student found in private institutions in Nigeria cannot be said to be poor.”
Sawyerr therefore, argued that if the private institutions’ students should be considered, then some may argue for Nigerians studying abroad to also benefit.
“What we are to do is wealth redistribution and not to take from the rich to pay the rich again. We target only those who truly deserve it and we have our mechanisms to confirm this in place. Applicants’ BVN is one of such,” Sawyerr added.
On whether inmates of Correctional Service’s custodial Centres who are studying in higher institutions such as the National Open University of Nigeria (NOUN) are qualified.
Sawyerr said, “without stigmatizing them, it would be difficult to offer loans to persons serving jail terms. “How do they pay back?”
“The money is not grant but loan that is recoverable. But how do you recover loan from somebody serving life sentence or prolonged jail term? Even when they are out, there could be difficulties securing jobs that will enable them to repay,” he explained.
The MD, however, added that the scheme would better serve students who haven’t been convicted of any wrongdoing.
Sawyerr, however, got support from the NELFUND’s Executive Director of Finance and Administration, Frederick Akinfala.
According to Akinfala, an inmate convicted of rape or murder shouldn’t be favoured over someone who hasn’t been convicted. He, therefore, insisted that inmates are not qualified.
Source: Premium Times
