As the Nigerian Education Loan Fund continues to disburse billions of naira to students across the country, beneficiaries at Nasarawa State University, Keffi are expressing mixed feelings, relief today, uncertainty tomorrow. For many, the loan has been a lifeline. For others, especially those nearing graduation, a growing concern is beginning to take root: what happens when repayment begins?
Umar Yahaya, a 400-level student, explained that the money helped him survive a difficult semester. He used part of it to pay his fees and also addressed his daily expenses, including food and transportation. However, he admitted that the thought of repaying the loan after school worries him. “This money has helped me survive. I paid my fees and sorted out feeding, but I worry about getting a job after NYSC. How will I repay if I’m still hustling after school?” he asked.
The Nigerian Education Loan Fund, established in 2023, was created to ensure access to tertiary education for students regardless of their economic background. Since its rollout, the scheme has disbursed over fifty-six billion naira to more than two hundred and ninety-eight thousand students across Nigeria. At Nasarawa State University, Keffi, over seven hundred students have so far benefited from the initiative, with disbursements exceeding forty-five million naira as of March 2025.
Maryam Abdullahi, a final-year student, acknowledged the impact of the intervention on her academic journey. She said the upkeep allowance allowed her to stay enrolled in school when things were financially difficult. “Without the upkeep support, I might have deferred this session. I use it for transportation, data, even buying textbooks,” she explained. “But I’m nervous. What if I don’t find a good job on time? How soon will they expect us to start paying back?”
According to official guidelines from NELFUND, loan repayment begins two years after the beneficiary completes the National Youth Service Corps, and only after securing gainful employment. While some students agree the conditions are reasonable, others are skeptical about how the policy will be enforced in the long term. Chidiebere Okoro said he fears the possibility of policy reversals. “We’ve seen government policies change overnight. What if they revise the law and demand repayments regardless of our status? That’s what worries me,” he said.
Chidiebere also questioned the government’s ability to monitor graduates, especially those who may not find jobs in the formal sector. He added that the system still lacks transparency. “There should be a clear exit plan and proper sensitization for those graduating,” he noted.
Some students say their anxiety stems not just from repayment, but from whether the government will honor its promise to make the process transparent and fair. Rukayat Suleiman said she is not against the idea of repaying the loan but called for trust-building efforts. “I’m not against repaying the loan, but the trust deficit is real. We’ve seen failed government promises before. We want binding assurances,” she said.
Despite the worries, there are students who see the loan as a form of long-term empowerment. John Tersoo said he views it as an investment in his own future. “I consider it a loan from my future self. I’ll work hard, get a job, and pay it back. It’s only fair,” he said.
As the NELFUND program expands, there is no doubt that it has improved access to education across Nigeria. At Nasarawa State University, Keffi, the impact is already evident. Students have received timely support to continue their studies despite economic hardship. However, the long-term success of the initiative may depend on more than just funding. Transparency, trust, and realistic repayment mechanisms will be essential in determining whether students view the scheme as true empowerment or a looming financial burden.
For now, students like Umar, Maryam, Rukayat, and John remain hopeful. They are grateful for today’s support, but also cautious as they look toward the future.
