The Nigerian Education Loan Fund (NELFUND) has mandated all tertiary institutions to reimburse tuition fees paid by students who were verified prior to receiving their loans. This directive aims to ensure that no verified student within the loan scheme is denied access to academic activities, including examinations, due to outstanding tuition payments.
NELFUND’s Managing Director and CEO, Akintunde Sawyerr, emphasized the need for universities, polytechnics, and other higher education institutions to adhere to their agreements with the agency to facilitate a smooth process. He stated that compliance would significantly alleviate the concerns raised by many beneficiaries.
As of 8:21 PM yesterday, NELFUND’s website reported that 597,337 students had registered for the loan, with 547,954 having completed their applications. The agency has disbursed N54 billion to support these students.
During a sensitization campaign at the University of Lagos (UNILAG), Sawyerr expressed satisfaction that the university had begun issuing refunds to students who previously settled their fees. Represented by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, he clarified that this directive is applicable to all institutions that have collected fees for beneficiaries of the student loan scheme.
Sawyerr reminded institutions of their obligation not to exclude students from academic activities due to unpaid fees, particularly those verified under the loan scheme, reinforcing their commitment through a memorandum of understanding with NELFUND.
He also highlighted the importance of ongoing awareness initiatives on campuses to enhance student participation in the scheme and advised prospective beneficiaries planning to migrate abroad to fulfil their loan obligations post-relocation.
UNILAG’s Vice-Chancellor, Folasade Ogunsola, represented by the Dean of Student Affairs, Musa Obalola, assured students awaiting refunds that the process is nearing completion and encouraged them to provide accurate bank details to expedite the refunds next week. She attributed previous issues with fee payments to a discrepancy between NELFUND’s disbursement schedule and the university’s academic calendar, praising the federal government for the initiative which she described as transformative, particularly given the financial challenges many students face, even with modest public university fees.
NELFUND’s Head of IT, Wale Ogunleye, reported that of the 7,112 UNILAG students who registered for the loan, 5,566 were approved and disbursements made to 4,636. In addressing concerns regarding alleged fraud in the loan distribution, Sawyerr, represented by NELFUND’s Director of Administration, Zino Ugboma, reaffirmed the agency’s dedication to transparency, stressing that while the system may not be perfect, they are striving to enhance its effectiveness and urging stakeholders to focus on refining the process for the benefit of all Nigerians.
