15,000 LAUTECH Students Yet To Receive Approved NELFUND Loans — VC Kalilu

The Vice-Chancellor of Ladoke Akintola University of Technology (LAUTECH) Ogbomoso, Oyo State, Prof. Razaq Kalilu, has raised the alarm over the non-disbursement of student loans approved under the Federal Government’s loan scheme, revealing that more than 15,000 beneficiaries in the institution were yet to receive funds.

Prof. Kalilu disclosed this on Thursday during a press briefing ahead of the LAUTECH’s 18th convocation ceremony, expressing concern that the delay could undermine the objective of the Nigerian Education Loan Fund (NELFUND).

According to him, nearly 19,000 LAUTECH students applied for the loan scheme, with over 15,000 approvals already granted but without corresponding disbursement.

“About 19,000 of our students applied for the NELFUND scheme. Out of this, over 15,000 have been approved, but the funds are yet to be disbursed,” he said.

The vice-chancellor warned that while the initiative remained a laudable intervention aimed at improving access to higher education, the delay in releasing the funds posed a serious challenge, particularly for students grappling with financial difficulties.

The LAUTECH helmsman reiterated the need for timely disbursement of the approved loans to ensure that the scheme delivers its intended impact on students’ access to tertiary education.