NELFUND disburses N59.8m to Federal College of Education, Gusau

The Nigerian Education Loan Fund (NELFUND) has disbursed ₦59,865,400.00 to 547 students of the Federal College of Education (Technical), Gusau, Zamfara State to cover their tuition fees and other essential expenses for the 2023/2024 academic session.

In a letter signed by Dr. Onazi Bosede Oluwatoyin, the Acting Provost of the College, the institution’s management expressed gratitude to NELFUND and confirmed the disbursement of the funds.

“On behalf of the governing council, management, staff, and students of the Federal College of Education (Technical), Gusau, I wish to express our profound gratitude and appreciation to NELFUND for the successful implementation and disbursement of student loans for the 2023/2024 academic session,” said Onazi.

Onazi stated that 547 students of the institution have been enrolled in the scheme and that the institution has experienced a 99.8% success rate in the application and disbursement process.

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The Tinubu administration introduced NELFUND to provide loans to students of government-managed federal institutions across the country to finance their tuition fees and other necessary expenses. The fund was designed to reduce the number of dropouts from tertiary institutions and support these students in the face of escalating economic challenges.

According to Onazi, NELFUND has transformed the lives of the institution’s students, who are dealing with harsh economic realities.

She added that the students can cover learning materials and living costs with the monthly ₦20,000 stipend, which has significantly reduced the number of dropouts from the institution.