The Executive Secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has revealed the organization’s strategy for student loan repayment.
During an interview on Channels Television’s Politics Today, Sawyerr outlined that students receiving loans from NELFUND should inform the organization two years after completing their mandatory one-year National Youth Service Corps (NYSC) program.
As per the fund’s regulations, there is a two-year period post-NYSC for reporting back to NELFUND.
Sawyerr emphasized that the loans must be repaid and that reporting to NELFUND after two years from completing NYSC is necessary to discuss payment options.
Sawyerr
He clarified that individuals are expected to update NELFUND on their employment status every two years after completing NYSC to determine repayment schedules.
Regarding job availability after NYSC, Sawyerr confirmed a moratorium, stating that if someone remains unemployed after four years, NELFUND will not pursue them but require regular reporting.
