LAUTECH Vice-Chancellor Raises Alarm Over Delayed Student Loan Disbursements
The Vice-Chancellor of Ladoke Akintola University of Technology (LAUTECH), Prof. Razaq Olatunde Rom Kalilu, has publicly revealed a significant delay in the disbursement of federal student loans, affecting thousands of students at the institution. During a press conference held on Thursday to announce the university's 18th convocation ceremony, Kalilu expressed deep concern that over 15,000 students who were approved for the Nigerian Education Loan Fund (NELFUND) scheme have yet to receive the promised financial assistance.
Details of the Loan Approval and Disbursement Issue
According to Prof. Kalilu, approximately 19,000 LAUTECH students submitted applications for the NELFUND loan program, which is designed to support higher education access. Out of this total, more than 15,000 applications received approval from the relevant authorities. However, despite this approval, the funds have not been released to the beneficiaries, creating uncertainty and potential financial strain for the affected students.
"About 19,000 of our students applied for the NELFUND scheme. Out of this number, over 15,000 have been approved, but they are yet to receive the funds," Kalilu stated emphatically during the conference. He highlighted that while the student loan initiative is a commendable effort by the Federal Government to improve educational opportunities, the current delay in disbursement threatens to undermine its positive impact, particularly for students from economically disadvantaged backgrounds.
Call for Expedited Action and Broader Implications
The Vice-Chancellor urged the responsible government agencies and officials to take immediate steps to accelerate the release of the loan funds. He emphasized that timely disbursement is crucial to ensure that students can adequately cover their academic expenses, such as tuition fees, textbooks, and living costs, without facing additional hardships that could disrupt their studies.
Kalilu warned that prolonged delays could lead to increased dropout rates, reduced academic performance, and heightened financial stress among the student population. He stressed that the success of the NELFUND program depends not only on approval rates but also on efficient and prompt fund distribution to meet the urgent needs of beneficiaries.
Context of LAUTECH's Academic Progress and Convocation Events
Amidst the loan disbursement concerns, Prof. Kalilu also shared positive developments at LAUTECH. He noted that the university has achieved greater academic stability in recent times, which has allowed for the implementation of a long vacation period for students—a milestone not seen in approximately 12 years. This improved academic calendar and learning environment are expected to enhance student performance and overall educational outcomes.
The Vice-Chancellor reaffirmed LAUTECH's commitment to upholding high academic standards and producing quality graduates, despite the financial challenges faced by some students. The 18th convocation ceremony, which commenced on April 16 and will continue through April 23, includes a variety of activities such as academic lectures, degree award ceremonies, and the conferment of special honours, celebrating the achievements of the university community.
In summary, while LAUTECH celebrates its convocation and academic advancements, the delay in NELFUND loan disbursements remains a pressing issue that requires urgent attention to support the financial well-being and educational pursuits of thousands of students.
