UNIBEN VC Says NELFUND Is More Student-Friendly Than US and UK Loan Schemes

The Vice-Chancellor of the University of Benin, Prof. Edoba Omoregie, says the Nigerian Education Loan Fund offers a more student-friendly model than loan schemes in the United States and United Kingdom. He cited the interest-free structure, upkeep support, repayment moratorium and income-based deductions after beneficiaries secure jobs. He said these features make the scheme closer to an education grant than a conventional loan. Omoregie also urged more students to take advantage of the fund, saying interest in the scheme has been lower than expected. He praised the revised law as more accommodating than the earlier version, which had stricter conditions and no upkeep provision.

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