The NELFUND student loan programme has come under renewed scrutiny as the Nigerian Education Loan Fund (NELFUND) warned tertiary institutions against withholding tuition refunds and imposing unjustified fee increases on students benefiting from the Federal Government’s education financing initiative.
In a public notice issued by the Director of Strategic Communications, Oseyemi Oluwatuyi, the agency said it had received multiple reports alleging that some higher institutions were engaging in practices that undermine the objectives of the student loan scheme.
According to NELFUND, some institutions have refused or delayed refunding students who had already paid their tuition fees before the Fund later disbursed the same tuition directly to the schools. The agency described the practice as unethical and said it was taking immediate steps to ensure that affected students receive the refunds due to them. NELFUND stated that it had already begun engaging with the affected institutions and relevant authorities to resolve the issue without further delay.
Beyond delayed refunds, the Fund also expressed concern over what it described as arbitrary increases in tuition and other institutional charges by some tertiary institutions.
It warned that such actions place additional financial pressure on students and contradict the purpose of the NELFUND student loan initiative. According to the agency, the scheme introduced under the administration of President Bola Ahmed Tinubu was designed to remove financial barriers to higher education rather than create new ones.
NELFUND said it is working to ensure that tuition fees and other institutional charges remain fair, transparent and consistent with the objectives of the national student loan programme. The agency reaffirmed its commitment to protecting students from exploitative practices that could prevent them from enjoying the full benefits of the scheme.
According to Oluwatuyi: “NELFUND remains committed to protecting the interests of students and preserving the integrity of this landmark national intervention.”
The Fund said safeguarding the credibility of the NELFUND student loan programme remains a top priority, adding that beneficiaries should not be denied the advantages of the Federal Government’s education financing initiative because of institutional misconduct. NELFUND reiterated that it will continue working with tertiary institutions and relevant stakeholders to ensure compliance with the scheme’s guidelines and to promote fairness, accountability and transparency in its implementation.
