As part of its policy towards greater access to Higher Education, the University initiated the Less Endowed Schools Admission Programme in 2003. This was to offer concessionary admissions to students from those Schools who would otherwise not have had the benefit of University education due to the competitive Admission process and limited vacancies.
The problem is further compounded by the new educational reform introduced by the government at the tertiary level, with emphasis on
• Cost sharing,
• The payment of Academic Facility User Fees (AFUF),
• The decoupling of accommodation from admission and
• The rationing of residential facilities leading to the payment of Residential Facility User Fees(RFUF) and In-Out-Out-Out residential policy have resulted in the gradual increase in cost of University education.
Coupled with the aforementioned, the inflationary and macroeconomic trends have raised the cost of upkeep (food, books and handouts) of students on campus such that the less affluent and needy but brilliant students struggle hard to secure funds to enable them complete their programmes of study.
To further the course of this policy, the University instituted the Students' Financial Services Office (SFSO) to, among others, explore, solicit and offer financial assistance to students from Less Endowed Schools, as well as, Needy but brilliant Students studying in the University.
The SFSO is expected, among others, to:
• provide financial assistance by the way of bursaries and scholarships to Less Endowed Schools Students as well as needy but brilliant students studying at the University who, without such assistance, may be unable to meet educational and other expenditure at the University; and,
• Create work-study opportunities for students.
• To ensure that financial assistance is provided in an effective, timely, fair and equitable manner to all qualified applicants.
• To promote the establishment of financial assistance (Scholarships, Bursaries, Awards and Work Study Schemes) by individuals, corporate NGOs and religious bodies.
• To encourage the University (Colleges, Schools, Faculties, Departments Institutes and Centres) to create more Work Study avenues for needy students.
• To engage in fund raising activities to enhance the sustainability of the SFS support schemes of the University.
• Provide financial assistance to needy but brilliant students in the University who without such assistance, may not be able to meet their educational and other ancillary expenses.
• Seek to monitor all financial support (Scholarships, Bursaries and Work Study Schemes) to students from both local and foreign sources.
• Ensure that there is equitable disbursement of the scarce resources available to all eligible students.
• Prevent students from applying and accumulating funds from several financial sources for any reason, since the office is established to support needy students but not to enrich them.