A cultural resistance to debt is hindering the participation of students from the South-South and South-East regions of Nigeria in the country’s student loan program, according to Professor Owunari Georgewill, the Vice Chancellor of the University of Port Harcourt. This resistance is rooted in the reluctance of families to associate their children with debt, even if the loan is interest-free. As a result, Georgewill has advised the government to consider transforming the program into a repayable grant, which would alleviate concerns among parents.
Speaking at a recent Strategic Engagement and Sensitisation Campaign by the Nigerian Education Loan Fund (NELFUND), Georgewill noted that the word “loan” itself is a significant deterrent to student participation. He suggested rebranding the program as a repayable grant to make it more appealing to potential beneficiaries. This move, he believes, would help increase participation rates, particularly in regions where cultural attitudes towards debt are a major obstacle.
The University of Port Harcourt, with its relatively low tuition fee of N78,000 per year, has maintained a clean record since the program’s inception. However, only 1,800 out of 40,000 students are currently benefiting from the loan scheme. David Bariereka, a former National Secretary of the National Association of Nigerian Students (NANS), corroborated Georgewill’s assertion that the university has not been subject to any official complaints regarding misappropriation of NELFUND disbursements.
The Managing Director of NELFUND, Akintunde Sawyerr, emphasized the agency’s commitment to transparency and cautioned against spreading unfounded allegations of fraud. He warned that such reports could damage the program’s reputation and hinder its potential to transform the country’s education sector. Instead, Sawyerr urged stakeholders to focus on refining the system to benefit Nigerian students.
Despite initial low participation rates, there has been a significant increase in student enrollment in the program. The number of students who signed up for the loan on the NELFUND portal at the University of Port Harcourt has risen to 4,000, making it the highest among institutions in Rivers State. Nationwide, approximately 600,000 students have registered for the program, with the University of Port Harcourt’s registrants playing a significant role in this success.
As part of its sensitization campaign, NELFUND officials also visited the Ignatius Ajuru University of Education in Port Harcourt. The agency’s efforts aim to promote transparency, address concerns, and encourage more students to participate in the program. By doing so, NELFUND hopes to increase access to education and provide opportunities for Nigerian students to achieve their academic goals.
