Understanding Students’ Participation in the Nigerian Education Loan Fund (NELFUND)

Perspectives of Subscribers and Non-Subscribers in Selected Higher Education Institutions in Ogun State, Nigeria.

Abstract

This study investigates subscribers' and non-subscribers' perspectives to Nigeria Education Loan Fund (NELFUND) in selected tertiary institutions in Ogun State, Nigeria. The study was underpinned by the Human Capital, while the sequential mixed methods (QUAN+qual) design was adopted. The purpose sampling technique was used to select 520 undergraduates from Olabisi Onabanjo Uniersity, Taiwo Solarin Federal University of Education and Sikiru Adetona College of Education, Science and Technology, who are willing to paticipate in the study. Instruments used were Perception of NELFUND (r=0.87), Attitude to NELFUND (r =0.86) and Interview Guide. In-depth interviews were held with eight undergraduates executives. The quantitative data were analysed using descriptive statistics, while the qualitative data were content-analysed. The age of the respondents were (21.80 ±1.40) years, and 60.0 % were males. Results show that undergraduate had positive perception (x̄= 2.73) and attitude (x̄= 2.74 ) to NELFUND at a threshold of 2.50. Qualitative findings indicate that while NELFUND is generally perceived as a relevant policy intervention for expanding access to higher education, participation is influenced by factors such as awareness levels, trust in government systems, perceived repayment burden, and ease of application processes. Subscribers reported significant financial relief and improved access to education, whereas non-subscribers expressed concerns about debt obligations, limited information, and uncertainty about post-graduation repayment capacity. The study concludes that the effectiveness of NELFUND depends not only on policy design but also on communication strategies, institutional support, and students’ behavioural perceptions. It recommends improved sensitization, simplified application procedures, and enhanced transparency in implementation to increase participation rates.