Why Students of National Open University of Nigeria (NOUN) Are Not Eligible To Receive Student Loan

The Nigerian Education Loan Fund (NELFUND) has shed more light on why students of National Open University of Nigeria (NOUN) are not eligible for the student loan.

This, the Nigerian Education Loan Fund (NELFUND) said, is due to their inability to possess Joint Admission and Matriculation Board (JAMB) Number a major requirements before accessing the student loan.

The Managing Director/Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Dr. Akintunde Sawyerr said this while addressing journalists in Abuja.

According to reports by The Guardian Newspaper although National Open University of Nigeria (NOUN) is listed as the 29th school among the one hundred and twenty six federal higher institutions to benefit from the student loan on the student loan website, they would not be among the 1,200,000 beneficiaries of the first phase of the student loan for not meeting this criteria.

Recall that the The Managing Director/Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Dr. Akintunde Sawyerr had also disclosed that sixty thousand students had registered for the student loan in one week, out of which thirty thousand -representing 50% – successfully applied for the student loan.

The Managing Director/Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Dr. Akintunde Sawyerr said the agency has very strict criteria and guidelines and would not bend the rules for any institution or individual, no matter how highly placed.

According to The Managing Director/Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Dr. Akintunde Sawyerr, the Fund would ensure due diligence, “protect taxpayers money and protect the Fund from frivolously handing out money without being able to account for it”.

The Managing Director/Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Dr. Akintunde Sawyerr said: “We have strict criteria and guidelines around how people can access this loan opportunity. All of them are non-negotiable. JAMB (number) is non-negotiable using this application process. Unfortunately, if an applicant has not got a JAMB number, and has not gone through the JAMB application process it is going to be impossible to grant that individual a student loan at this stage.

“So, I urge those who can, to go and regularise their status with JAMB so that it makes it easy for them to access this opportunity. This is an equal opportunities programme. It does not seek to discriminate against anybody. But it does seek to protect taxpayers’ money and protect the Fund from frivolously handing out money without being able to account for it.

“We have an obligation to that. This money is held in trust by NELFUND and administered by the Management. And we must do everything we can to protect it. Even if it means, unfortunately, some people won’t have access to it immediately”.

The Managing Director/Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Dr. Akintunde Sawyerr, therefore, urged those affected to contact the examination body and regularise their status.

The Managing Director/Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Dr. Akintunde Sawyerr listed other mandatory requirements by applicants to include: name of institution of study, admission number, date of birth, National Identity Number (NIN) as well as Bank Verification Number (BVN).

Source: https://guardian.ng/news/why-noun-students-are-not-eligible-for-students-loan-nelfund/