Many students in Nigeria are happy about the new student loan from the Federal Government. But some are asking why those doing postgraduate studies (like Master’s or PhD) cannot apply. The Nigerian Education Loan Fund (NELFUND) has given a clear answer.
Important Details (At a Glance)
| Topic | Details |
|---|---|
| Loan Provider | Nigerian Education Loan Fund (NELFUND) |
| Loan Start Date | May 2024 |
| Eligible Students | Only first-degree students (undergraduates) |
| Postgraduate Eligibility | Not eligible yet |
| Total Registered Students | 521,000+ |
| Applications Submitted | 438,000+ |
| Approved Beneficiaries So Far | Over 271,000 |
| Future Plans for PG Students | May be included later |
Why Postgraduate Students Are Not Allowed
The Managing Director of NELFUND, Mr. Akintunde Sawyerr, explained that the student loan is only for students who are trying to get their first university degree.
He said that many young Nigerians still don’t have any higher education. So the fund is helping them first. Those doing postgraduate studies (like Master’s or PhD) have already passed that stage.
“We want to help people who are just starting,” he said. “They need this support the most.”
Clear Rules – No Need to Know Anybody
The Managing Director also said something important:
No student needs any special connection or “long leg” to get the loan.
“You don’t need to know anybody to apply. No godfather. No connection. We will not allow favoritism,” he added.
The system is built to be fair for everyone.
Good News for the Future
Even though postgraduate students are not allowed for now, NELFUND may include them in the future.
Mr. Sawyerr said:
“Those who are doing Master’s or PhDs, you are doing well. But we are not giving loans to you now. Maybe in the future, yes.”
So, there is hope. But for now, only undergraduate students can apply.
Helping Students Stay in School
The reason for this rule is simple. The government wants to stop poor students from dropping out of school.
The student loan is giving many young Nigerians a chance to stay in school, pay their fees, and focus on their studies.
“We are here to help people who would leave school because of money problems. That is our job,” Mr. Sawyerr said.
Student Response Has Been Positive
The Managing Director said over 271,000 Nigerian students have already received money through the loan since May 2024.
“Students are happy. They now trust the system. President Tinubu is helping to build that trust again,” he said.
Out of 521,000 students who signed up, over 438,000 have already submitted full applications.
Will Postgraduate Students Get a Loan Later?
Maybe yes. But not now.
For now, NELFUND is focused on students who are getting their first chance to enter university. That is where the money is going.
If the government has more money later, and the policy changes, then Master’s and PhD students might also get support.
Conclusion
Postgraduate students in Nigeria are not yet eligible for the FG student loan, according to NELFUND. The loan is only for first-degree students who need it most. But there is hope for the future. The system is built to help those with no connections, and it is already helping thousands of Nigerian students continue their education.
FAQs
Q1: Can Master’s or PhD students apply for the student loan now?
No. Only undergraduate students can apply right now.
Q2: Why are postgraduate students not allowed?
Because the focus is on helping those trying to get their first university degree.
Q3: Will postgraduate students get loans later?
Maybe in the future, if the government updates the policy.
Q4: How many students have benefited so far?
Over 271,000 students have received funds as of March 22, 2025.
Q5: Do I need a connection to apply for the loan?
No. The system is fair. You don’t need to know anybody.