The Nigerian Education Loan Fund (NELFUND) has disbursed ₦148.34 million in student loans to 301 students of the Oyo State College of Nursing and Midwifery, providing financial support to beneficiaries pursuing nursing education in the state.
The disbursement forms part of the Federal Government’s student loan initiative designed to expand access to tertiary education by providing financial assistance to eligible Nigerian students who may face difficulties meeting the cost of their education.
According to reports on the development, the funds were disbursed to 301 verified students of the Oyo State College of Nursing and Midwifery under the NELFUND scheme.
The intervention is expected to ease the financial burden on the beneficiaries and their families, particularly as the cost of professional education and other associated expenses continues to place pressure on households.
The development is also significant for the health sector, as nursing students constitute an important part of the pipeline for producing trained healthcare professionals needed to strengthen Nigeria’s healthcare system.
NELFUND’s student loan programme provides financial assistance to eligible students in approved tertiary institutions, with the broader objective of ensuring that financial constraints do not prevent qualified Nigerians from pursuing higher education and skills development.
The latest disbursement to the Oyo nursing students adds to previous efforts to extend the student loan scheme to institutions across the country.
The Oyo State Government has also previously reported beneficiaries of NELFUND support at the Oyo State College of Nursing and Midwifery, reflecting the growing reach of the Federal Government’s education financing intervention in the state.
For the 301 beneficiaries, the latest intervention is expected to provide some relief as they continue their professional training and prepare to join Nigeria’s healthcare workforce.
NELFUND’s intervention comes at a time when access to affordable education remains a major concern for many Nigerian families, making student financing an increasingly important component of the country’s higher education system.