Joy Everywhere as LAUTECH Students received Money From NELFUND

The release of funds to students at Ladoke Akintola University of Technology (LAUTECH) is a report of a scheme of providing monetary assistance to students in the form of loans. The Nigerian Education Loan Fund (NELFUND) has recently released an amount of over ₦489 million to cater to 2,271 LAUTECH students. This is one of the steps being taken by the Nigerian government to mitigate the financial burden on students so that they can focus more on academic studies without an added burden of school fees or other education expenses.

Below is a breakdown of how the funds were released:

1. First Tranche: ₦8,670,000 was disbursed to 52 students on September 5, 2024.

2.Second Tranche: ₦83,916,000 was paid to 666 students on November 1, 2024.

3.Future Disbursements: The balance was then disbursed to the remaining students in future stages.

The aim of this kind of financial aid is to serve as a considerable increase for the students who could otherwise not afford to pay school fees and other charges. The loans are set to enable the students to proceed with their education without letting finance be a limiting factor.

NELFUND’s intervention is particularly vital in Nigerian universities where the majority of students face difficulties in accessing funds. Disbursing loans helps in increasing level playing fields for education, especially in state universities like LAUTECH, where financial constraints typically prevent the students’ progression.

This expenditure is not a scholarship; the funds are repayable, but it’s a viable avenue for students to pursue further studies and ease some of the strain resulting from high tuition fees and other study expenses.

For more specific information regarding repayment terms or eligibility, consulting NELFUND’s official platforms, such as their website or social media accounts, would be informative.