Nigerian Student Loan Program Keeps 4,000 in University

When a university sees thousands of students forced to leave each year because they can't afford tuition, something has to change. At Olabisi Onabanjo University in Nigeria, that change just arrived.

The school used to receive up to 4,000 applications annually from students asking to leave due to financial problems. This year, as the application deadline approaches, that number has dropped to zero.

The turnaround comes from the Nigerian Education Loan Fund, a new government initiative that covers tuition costs for students who need help. President Bola Tinubu established the program to make sure financial struggles don't end educational dreams.

Vice-Chancellor Prof. Ayodeji Agboola announced the impact at a press briefing this week ahead of the university's 35th convocation ceremony. Over 5,000 students received loan payments for this academic session, with another 1,270 applications pending approval.

"Before the advent of NELFUND, we recorded between 3,000 and 4,000 applications for leave of absence annually due to financial difficulties," Agboola explained. "As of today, we have not recorded a single application on account of financial incapability."

The university is celebrating another milestone too. Next week, 5,808 students will graduate, including 147 earning first-class degrees, the highest academic honor.

Civil Engineering student Ajayi David Bamidele topped the class with a 4.89 grade point average. He and his classmates will receive their certificates and transcripts on graduation day, a practice the university pioneered last year to speed up the process.

The Ripple Effect

When students can focus on learning instead of worrying about fees, everyone benefits. The university has introduced eight new academic programs and improved its global ranking while expanding infrastructure through new partnerships.

Other graduates achieved strong results too: 2,051 earned second-class upper degrees, and 2,927 earned second-class lower honors. The success stories reflect what happens when financial barriers come down.

The convocation celebration will include a health walk, cultural parade, agriculture and engineering exhibitions, and sports events. Business leader Ayo Ojuroye will receive an honorary doctorate for his contributions to national development.

Nearly 7,000 students are now studying without the fear that next semester might be financially impossible.