Student Loans: NELFUND unveils plan to connect graduates with jobs

The Nigerian Education Loan Fund (NELFUND) has revealed plans to introduce a centralised job portal aimed at helping student loan beneficiaries access employment opportunities both within Nigeria and abroad.

Speaking during a media engagement in Abuja to mark one year of the student loan scheme, NELFUND’s Managing Director, Akintunde Sawyerr, disclosed that although the agency does not directly provide jobs, it is committed to supporting students even after graduation.

According to Sawyerr, the job portal, expected to launch in 2026, will compile job listings from both public and private sectors, as well as international employers targeting Nigerian talent.

He said, “We don’t just give a loan and leave students on their own.”

“This job portal is our way of supporting their journey towards economic stability.”

Sawyerr further explained that repayment of the loan will only commence after the beneficiary secures employment, which is expected to begin after their NYSC programme.

“If you don’t have a job, you don’t pay. And when you eventually get a job, your repayment starts fresh,” he said.

He added that once employed, 10 per cent of the beneficiary’s monthly salary would be deducted by the employer and remitted to NELFUND after proper verification.

Sawyerr also clarified that loan deductions would stop if a beneficiary resigns or is laid off, while the loan would be completely cancelled in the event of the beneficiary’s death, stressing that no family would be harassed for repayment.

On issues regarding non-refund of fees to students whose institutions had already been paid by NELFUND, Sawyerr criticised the actions of some schools. “Institutions must refund this money.

It’s disappointing that some schools have ignored this responsibility,” he said, adding that anti-corruption agencies like the ICPC and EFCC had already stepped in to investigate.

He explained that if a school cannot refund the student directly, it should remit the money back to NELFUND for proper disbursement.

Also speaking at the event, Mustapha Iyal, Executive Director of Operations, said the Fund is currently handling records of over 3.2 million students and expects about one million new applications by the end of 2025.

He stated that while the figure is not mandatory, the Fund aims to ensure that no Nigerian student is forced to abandon their education due to financial difficulty.