Akin Sawyerr, Executive Secretary of the Nigerian Education Loan Fund, has revealed that the student loans will be disbursed directly to the institutions of applicants to avoid diversion.
Sawyerr in a statement at the weekend also said that individuals who obtain the loans will be made to repay two years immediately after completion of the mandatory National Youth Service Corps
According to him, the sources of NELF funding included; one per cent of all profits accruing to the Federal Government from oil and other minerals; one per cent of taxes, levies and duties accruing from the Federal Inland Revenue Service, Nigeria Immigration Service, Nigerian Custom Service; Education Bonds and Education Endowment Fund schemes
