The Nigerian Education Loan Fund (NELFUND) recently revealed that it has disbursed at least ₦11 billion worth of loans to students in higher institutions across the country.

NELFUND made this disclosure on Wednesday evening in a post on its official X account where it provided an update on the disbursement of loans to students.

“The Frequently Asked Questions (FAQ) below is our attempt to answer common questions that the applicants may have regarding the Students’ Higher Education Loan in a brief and easy-to-understand way,” NELFUND wrote on its official X account.

1. What is the Students Loans (Access to Higher Education) Act, 2024?

The Student’s Loan Act is an Act of the Parliament that makes it possible for Nigerian students to access zero interest loans to enable them pay for institutional charges and upkeep to any higher institution of their choice within Nigeria.

2. Is the Student’s Loan the same as the Nigerian Education Bank?

No. The Student’s Loan Act has repealed the Nigerian Education Bank Act and established a framework for providing zero interest loans to eligible Nigerian students who desire to study at any institution of higher education.

3. Who administers the loans to the students?

The loans will be administered by the Nigerian Education Loan Fund (NELFUND), which is the body established by law to carry out the day-to-day activities of the Fund. It is headed by a Managing Director, appointed by the President of Nigeria.

4. Is the loan open to all tertiary institutions?

The Loan is open to all public tertiary Institutions. The first phase of the loan is open to only students studying/desiring to study in federal higher institutions in Nigeria. The other phases will be announced in due course.

5. Who is eligible to apply for loans under this Act?

Students who have secured admission into all Public Nigerian universities, polytechnics, colleges of education, or vocational schools, with a proof of admission that includes Name, Date of Birth, Admission, JAMB number, Matriculation number, and BVN.

All new and existing students within the institution above can apply for the loan.

6. Can a Direct Entry Student into higher institutions apply for the loan?

Yes, but such student must have a JAMB number.

7. Will the loan be available for all students or only applicants?

All full-time students are eligible for the loan but only applicants will benefit from the loan.

8. How much loan are students allowed to apply for?  

That would be determined by the institutional charge of each Institution. The loan will cover the cost of institutional charges and upkeep if required by the student. The institutional charges will be remitted directly to the applicants’ institutions and the upkeep will be paid to the applicant on a monthly instalment basis.

9. Will the applicant be required to make any payment before the loan is disbursed?

No payment is required before the disbursements of the loan.

10. Is there an interest payable on the loan?

Zero interest on the loan.

11. Is the loan open to every student?

The loan is open to new and existing full-time students in tertiary institutions.

12. How are loan applications processed, and what is the disbursement timeline?

Applications are done online. Applicants are required to input specific personal details that include:

i. Name of Institution of study

ii. Admission Number

iii. JAMB Number

iv. Date of Birth

v. NIN

vi. BVN

NELFUND will disburse within 30 days of approval of successful applications.

13. Is there age limit for applicants?

No

14. Who is responsible for the loan repayment?

The beneficiary of the loan is responsible for the repayment of the loan.

15. Is the loan applied for only once?

The loan will be applied for every academic session by the student.

16. How do applicants know their application is approved?

Applicants will receive a notification and the status of the loan application can be seen in the applicant’s profile on the portal.

17. When is the loan due for repayment?

The loan is due for repayment 2 years after the completion of NYSC

18. What happens if a beneficiary does not have job after two years post-NYSC?

The beneficiary should notify NELFUND by sworn court affidavit every 3 (three) months after two years post NYSC if still unable to gain employment.

19. How will the loan repayment process work?
    Ten percent (10%) of the beneficiary’s salary will be deducted at source by the employer. Self-employed beneficiaries are required to remit 10% of their monthly profit to the Fund.
     
    You are at liberty to seek to repay beyond the statutory 10% monthly repayment by your employers/by self if you are self-employed.
    
20. What if I have the money to pay back before I get a job 
    You can repay once you have money to pay back, even before you gain employment.
     
21. How do I repay when I am relocating abroad?
    You will contact the NELFUND and sign an agreement with modalities to repay.
     
22. Do students require a guarantor to access the loan?
    The students’ loan has no requirement for a guarantor.
     
23. What are the consequences of defaulting on the loan?
    Deliberate default could result in penalties, legal action, and potential damage to your credit score.
     
24. Is there any appeal process when an application is denied?
    A complaint can be raised from the portal, or you can send an email to the NELFUND
     
25. Are there any documents to upload during the application process?
    Yes. Scanned admission letter for new students (compulsory), scanned Student Identification Card (optional).
     
26. Under what circumstances would NELFUND deny an application?
    if such an applicant is:

• Proven to have defaulted in respect of any previous loan granted by any license financial institution;
• Found guilty of submitting fake/fraudulent documents and dismissed for exam malpractices by any school authority; and
• Convicted of fraud and forgery, drug offences, cultism, felony, or any offences involving dishonesty.

The Nigerian Education Loan Fund (NELFUND) has revealed that it has disbursed at least ₦11 billion worth of loans to students in higher institutions across the country.

NELFUND made this disclosure on Wednesday evening in a post on its official X account where it provided an update on the disbursement of loans to students.

“98 Institutions across all geo-political zones are now benefiting from student loans,” it wrote on X.

“105,844 Students are receiving financial support, empowering them to achieve their educational dreams even as ₦11,047,793,949.80 has been disbursed to date.”

The Student Loan initiative (SLI) is a program established by the Federal Government of Nigeria to break financial barriers in higher education.

It has been designed to help in revolutionising the accessibility to education across Nigeria and also reducing financial stress on students and families.

Other benefits of the initiative include a path to educational accessibility without financial hurdles, interest-free loans for tuition fees and equal access to higher education for all eligible candidates.

To apply for the loan, interested candidates have been directed to register on the Student Loan Application platform by clicking the “APPLY NOW” button to get started.

The second step is to click on the “Request for Student Loan” button and complete the loan application steps after which applicants have been directed to submit.

“Step 3: Your application will be reviewed. After successful verification, payments will be made to your institution for institutional charge while the upkeep loan will be paid to the bank account you have provided in your profile,” NELFUND wrote on its official website.

The National Examination Council (NECO) has officially revised its 2024 SSCE External Timetable to accommodate the upcoming Ondo State governorship election, scheduled for Saturday, November 16.

This adjustment, shared on NECO’s website on Monday, advises candidates to review the revised timetable, as some exam dates may now differ from the original schedule.

The announcement stated, “Please note that the 2024 SSCE External Timetable has been adjusted due to the Ondo Governorship Election on Saturday, 16th November, 2024. The adjusted timetable is now available and should be reviewed alongside the original timetable.”

Candidates are reminded of key registration deadlines, with standard registration closing on November 6. Late registration will start on November 7, while walk-in registration, subject to additional fees, will begin on November 13.

NECO advises candidates to stay updated and check the revised schedule to avoid any last-minute inconveniences as they prepare for their exams.

“The registration deadline for the SSCE External Examination is 6th November 2024. Late registration starts on the 7th of November, and walk-in registration begins on the 13th of November. Both attract a fee,” the statement concluded.

Self-consciousness and mind manipulation are two complex and interconnected topics that have fascinated humans for centuries. From the nature of consciousness to the ways in which our minds can be influenced, these subjects have been explored in various fields, including philosophy, psychology, neuroscience, and sociology.

To gain a deeper understanding of self-consciousness and mind manipulation, we’ve compiled a list of 8 books that offer valuable insights and perspectives on these topics. Whether you’re interested in the science behind consciousness, the art of persuasion, or the ways in which our minds can be controlled, these books are sure to provide you with a wealth of knowledge and food for thought.

1. “The Conscious Mind” by David Chalmers

In this groundbreaking book, philosopher David Chalmers explores the nature of consciousness and its relationship to the physical world. Chalmers argues that consciousness is a fundamental aspect of the universe, unconnected to specific brains or bodies. He also discusses the implications of this idea for our understanding of free will, morality, and the human condition.

2. “Influence: The Psychology of Persuasion” by Robert Cialdini

This classic book on influence and persuasion explores the six universal principles that drive human behavior: reciprocity, commitment and consistency, social proof, authority, liking, and scarcity. Cialdini provides numerous examples of how these principles are used in various contexts, from sales and marketing to politics and social engineering.

3. “The Power of Habit” by Charles Duhigg

In this fascinating book, journalist Charles Duhigg explores the science behind habits and how they can be changed. Duhigg argues that habits are a crucial aspect of our lives, influencing everything from our daily routines to our relationships and decision-making processes. He also provides strategies for transforming bad habits into good ones.

4. “The Man Who Mistook His Wife for a Hat” by Oliver Sacks

This collection of case studies by neurologist Oliver Sacks explores the complexities of the human brain and its many mysteries. Sacks writes about patients with unusual neurological disorders, including those with impaired self-awareness, memory loss, and altered perceptions of reality.

5. “The Art of Deception” by Kevin Mitnick

In this book, former hacker Kevin Mitnick reveals the tactics and strategies used by social engineers to manipulate people into divulging sensitive information or performing certain actions. Mitnick provides insights into the psychology of deception and offers advice on how to protect oneself from these types of attacks.

6. “The Sociopath Next Door” by Martha Stout

This book explores the phenomenon of sociopathy, a personality disorder characterized by a lack of empathy, impulsivity, and manipulative behavior. Stout argues that sociopaths are more common than we think and provides guidance on how to recognize and deal with them.

7. “Mindwise: How We Understand What Others Think, Believe, Feel, and Want” by Nicholas Epley

In this book, psychologist Nicholas Epley explores the ways in which we understand (or misunderstand) other people’s thoughts, feelings, and intentions. Epley argues that our ability to read minds is limited and often influenced by our own biases and assumptions.

8. “The Lucifer Effect” by Philip Zimbardo

This book tells the story of the Stanford Prison Experiment, in which a group of healthy college students were transformed into sadistic guards and submissive prisoners. Zimbardo explores the psychological and social factors that contribute to this type of behavior and argues that we are all capable of both good and evil.

These 8 books offer a wealth of knowledge and insights into the complex topics of self-consciousness and mind manipulation. Whether you’re interested in the science behind consciousness, the art of persuasion, or the ways in which our minds can be controlled, these books are sure to provide you with a deeper understanding of the human experience.

The Nigerian Education Loan Fund (NELFUND) has pledged its commitment to helping beneficiaries of the Federal Government’s student loan programme secure employment.

The initiative, the agency said, aims to ensure that beneficiaries can repay their loans without difficulties.

Managing Director of NELFUND, Akintunde Sawyerr, stated this while addressing questions from tertiary institution students on the operations of the loan scheme.

The Guardian reports that at a joint public hearing organised by the National Assembly for the reenactment of the Students’ Loan Bill 2024, some stakeholders, including the National Association of Nigerian Students (NANS), expressed concerns about beneficiaries’ ability to repay the loan, given the unemployment rate in the country.

Speaking over the weekend, the Fund’s Chief Executive Officer said the agency is taking a proactive approach to empower students to repay their loans, thereby reducing the risk of default.

He noted that by connecting beneficiaries with job opportunities, the government is helping to create a more sustainable and self-sufficient education loan system.

His words: “We are saying that for the entirety of the course, if a person applies today, it’s zero percent interest. If they come back for their 200 Level, it remains at zero percent interest. In the future, we might change the interest rate but not for those who have applied now. We will follow through on the promise that takes it all the way through to the end of the course.

“The loan needs to be paid back. It can only be paid back if the person who took the loan is earning an income. So the provision of the law is that nobody is required to start paying this loan back until two years after they have completed their NYSC. What this means is that if a person completes their NYSC and, two years later, they are due to start paying the loan back, if they don’t have a job, they don’t pay back. NELFUND doesn’t come after people who don’t have a job, or gainful employment, to pay back. After the two-year point, you inform us that you still haven’t got a job. As NELFUND, we will try to connect you to work. We will try to connect you to jobs because it is in our best interest for you to get a job.”

While stressing that the programme is not a slave contract, Sawyerr pointed out that the online processes, which eliminate human contact, will help prevent corruption.

The Managing Director explained that if the Fund detects significant funds entering the loan recipients’ bank accounts, yet the individual claims no income or employment two years after completion of NYSC, it reserves the right to deduct the outstanding loan balance from the recipient’s bank account to recover the funds.

“We do ask for a mandate that allows us access to the accounts of those who are taking these loans. And if we find that large amounts of money are going into the account and the person is saying that they haven’t got a job or income, we reserve the right to take what is owed to NELFUND and pull it back out of the bank account into the NELFUND account.

“It is important that if a loanee wants to pay their loan back the day after they graduate, while they are still studying, or when they have money before they even do NYSC, they are welcome to pay back,” he stated.

While stressing that the credit facility is not allocated based on a quota system, the NELFUND boss noted that it is unethical to compel individuals to accept the loan. “The law requires that there is geographical spread. People who access this loan can come from anywhere. What we are doing is to ensure that we bring this equal opportunity to everyone in Nigeria. It is worth noting that it is unethical to force people to take loans. If a whole state, local government, tribe, or religious group decides that they don’t want to take the loan for whatever reason, there is very little we can do. But we are going to bring the opportunity to everybody,” he said.

Meanwhile, The Guardian investigation showed that the Fund is nearing the launch of a job portal aimed at connecting loan beneficiaries with employment opportunities, facilitating loan repayment post-graduation.

According to a source who requested anonymity, borrowers will receive a unique identification for priority access to job listings, allowing them to explore openings.

“We will try to attract jobs from Dubai, Scotland, the United States, and all over the world, and ask them to post them on our portal.

“Our priority will be the borrowers. Everybody that takes a loan has a unique ID. When you put your unique ID into that portal, it will allow you to access a place where you will be able to see the job before anybody else,” the source hinted.

President Bola Tinubu had in April this year signed into law the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.

The cardinal programme seeks to address the challenge of financial constraints in accessing higher education by providing interest-free loans to students in public tertiary institutions struggling to pay fees, as well as a monthly stipend of N20,000.

The Guardian reports that 1.2 million students from federal and state universities, polytechnics, and colleges of education are expected to benefit from the first phase of the scheme.

Checks on the agency’s website showed that as of Sunday, November 3, 2024, 262 federal and state universities, polytechnics, and colleges of education have been onboarded, resulting in 383,581 students’ registrations and 288,537 loan applications.

The Joint Action Committee of the Non-Academic Staff Union of Educational and Associated Institutions and the Senior Staff Association of Nigerian Universities are in a meeting with the Federal Government today (Thursday) to have talks over the ongoing strike.

The SSANU Vice-President Abdussobur Salaam confirmed this on Thursday morning, after the union received an official invitation from the Federal Government on Wednesday.

“We received a formal invitation last night. The meeting is scheduled for 11 am today. It will be presided over by the Minister of State for Education and will be held in the Minister’s Conference Room,” he is quoted as saying by The Punch.

Members of NASU and SSANU on Monday, October 28, commenced industrial action, over withheld four mouths salaries by the Federal Government.

The notice of strike was issued by the Joint Action Committee (JAC) of the two non-teaching staff unions to their members in federal universities across the country.

A circular to all branch chairmen of NASU and SSANU in the universities and inter-university centres noted that the strike, initially billed for October 23, was rescheduled because of the Trade Group Council meeting of NASU branches on the said date.

The circular, signed by General Secretary of NASU, Peters Adeyemi, and SSANU President, Mohammed Ibrahim, explained that the change in timing was for effective coordination and for both unions to be on the same page.

The unions expressed sadness over the failure of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to obey the directive of President Bola Tinubu, saying that the President had approved payment of two months out of the four months, but the minister failed to give effect to the directive.