Osun State’s Governor Ademola Adeleke has urged the Federal Government to ensure that beneficiaries of the student loan funds initiative of the Bola Ahmed Tinubu regime were not dragged into debts.
He gave the charge on Tuesday while hosting a delegation from the management of the Nigeria Education Loans Fund (NELFUND) at his office in Osogbo, the state capital.
According to Adeleke, challenges came with the student loan scheme for citizens of the United States.
Thus, he warned that “debt trap must never be experienced in Nigeria’s students’ loan operations.”
This came as the scheme has been officially launched in the state.
The Managing Director of NELFUND, Akintunde Sawyer, said the loan scheme was for government-owned tertiary institutions alone, saying beneficiaries would pay back two years after completing their National Youth Service Corps (NYSC) after securing employment.
Some 1.2 million students in 226 federal universities, polytechnics, colleges of education, and technical colleges are expected to benefit from the first phase.
