Low Female Participation in Student Loan Scheme Worries NELFUND 

The Nigerian Education Loan Fund (NELFUND) has expressed concern over the low number of female applicants for its student loan scheme. The Fund’s Managing Director, Akintunde Sawyerr, revealed this during the International Women’s Day celebration in Abuja, emphasizing the need for more female participation. 

Low Female Application Rate 

Sawyerr, represented by Oluwatosin Sanusi, NELFUND’s Head of Investments and Funds Management, noted that only one out of every five applications for the education loan fund comes from a female student. He described this as discouraging, considering the programme’s benefits in covering tuition fees and student welfare. 

In addition to student loans, NELFUND also offers a skill acquisition programme, which funds educational fees and provides stipends for entrepreneurship training. However, participation among female students remains low. “Currently, the ratio is 4 to 1, meaning for every four male applicants, only one female applies, which is not impressive,” he stated. 

Efforts to Increase Female Participation 

To address this imbalance, NELFUND is partnering with women-focused organizations to create awareness and encourage more female students to apply. The initiative aims to ensure that women also benefit from the financial support provided for education and skill development. 

Despite the programme’s accessibility to students in federal and state-owned universities and polytechnics, many female students are not taking advantage of the opportunity. The Minister of State for Education, Dr. Suwaiba Ahmed, emphasized the importance of financial support in ensuring uninterrupted education. She urged female students to utilize the fund to achieve their dreams and aspirations. 

The Importance of Loan Repayment 

While advocating for increased female participation, Sawyerr also stressed the importance of loan repayment. He explained that timely repayment after graduation and employment is essential for sustaining and expanding the initiative, allowing more students to benefit. 

Education is the key to empowerment, and financial support should not be a barrier. More female students must seize this opportunity to secure their future.” – Akintunde Sawyerr, NELFUND Managing Director. 

Advocacy for Gender Equity 

The National President of Female Students of Nigeria, Ms. Choice Enebeli, commended NELFUND for its efforts in encouraging female students to apply. She affirmed that women’s rights include equal access to education, economic opportunities, and leadership roles. To further support the initiative, Enebeli pledged to lead a nationwide awareness campaign on educational loans for female students. 

The NELFUND education loan and skill acquisition scheme presents a valuable opportunity for Nigerian students, yet female participation remains significantly low. Efforts are being made to bridge the gender gap, ensuring that more female students benefit from this initiative. Female students are encouraged to take advantage of these funds, ensuring they have the financial support needed to complete their education and pursue their career goals.