UNN VC Laments Low South-East Uptake of FG’s Students Loan

• South East beneficiaries falls lower than one North-East state

BY BONNY AMADI

The Vice-Chancellor (VC) of the University of Nigeria, Nsukka (UNN), Professor Simon Uchenna Ortuanya, has expressed concern over the low participation of students from the South-East in the Federal Government’s Nigerian Education Loan Fund (NELFUND). He revealed that only about 7,201 UNN students have so far benefited from the interest-free loan scheme.

Ortuanya described the level of participation as worrisome, noting that the total number of NELFUND beneficiaries across the entire South-East remained lower than the figure recorded in a single state in Nigeria’s North-East.

The Vice-Chancellor made the disclosure on Wednesday while addressing journalists during a pre-convocation press briefing at the university’s Enugu Campus.

He also announced that 12,895 students would graduate during UNN’s 55th Convocation Ceremony.

He urged students and parents across the South East to take full advantage of the Federal Government’s interest-free education loan scheme, stressing that many eligible students were missing out on an opportunity to ease the financial burden of higher education.

“I am happy you asked this question because it affords me an opportunity to share my experience,” Ortuanya said “Just last week, we were invited to a meeting where all higher institutions in Enugu State gathered.

The statistics presented were worrisome. The whole of the South-East that has accessed NELFUND is not equal to one state in the North-East that has accessed NELFUND.”

The Vice-Chancellor blamed the development partly on cultural attitudes towards borrowing.

“But this is money that is available at zero interest. It is an opportunity that should not be ignored,” he said.

Explaining why students should embrace the scheme, Ortuanya argued that beneficiaries stand to lose nothing because repayment attracts no interest.

“If I were a businessman, even if I had money to pay my school fees, I would rather put that money in the bank, take the zerointerest loan, allow my money to earn interest, and when repayment becomes due, I simply pay back the principal and walk away,” he said.

He disclosed that although the number of beneficiaries changes daily as applications are processed, UNN has recorded only about 7,201 beneficiaries so far.

As at the last count, those who have benefited in the University of Nigeria are still in the neighbourhood of 7,201, but we hope that the number will rise quickly,” he added.

Earlier in his address, Ortuanya announced that the university would graduate 12,895 students during its 55th Convocation Ceremony.