Sawyerr stated this during an interview on Channels Television’s Sunday Politics programme, saying that the student loan scheme has provided a lifeline for students who would otherwise struggle to finance their education.
“The demand has been overwhelming, because clearly a lot of people have struggled to get into these institutions,” he said. “They are hanging on by the skin of their teeth to stay in the institution, and this programme came as a rescue for them.”
According to Sawyerr, NELFUND was now analysing the growing demand and the figures around its disbursements to better understand the financial requirements of the scheme.
The NELFUND boss noted that the scheme has so far disbursed ₦162 billion in upkeep allowances to students, as the government-backed scheme continues to expand its reach across public tertiary institutions.
He said the programme was also beginning to influence competition among tertiary institutions, as students gained greater financial flexibility in choosing where to study.
