NELFUND- FG
The Nigerian Education Loan Fund has moved against tertiary institutions accused of withholding refunds due to students under the Federal Government’s student loan scheme, warning that it is engaging affected schools and relevant authorities to ensure compliance.
The Fund, in a public notice issued on Monday, Obtained by also condemned reports of arbitrary increases in tuition and other institutional charges, describing such practices as contrary to the objectives of the student loan programme.
NELFUND said some institutions had delayed or outrightly refused to refund students who had paid their tuition fees before the Fund subsequently disbursed the same fees to the schools on their behalf.
“The Nigerian Education Loan Fund has noted with concern reports of some tertiary institutions delaying or refusing to refund students whose tuition fees had already been paid before NELFUND disbursements, as well as arbitrary increases in tuition and other institutional charges,” the statement partly read.
It said the Student Loan Scheme was designed to remove financial barriers to higher education and should not become an avenue for placing additional financial burdens on students.
“The Student Loan Scheme, an initiative of the administration of President Bola Ahmed Tinubu, was established to remove financial barriers to higher education, not to create additional burdens for Nigerian students,” the Fund stated.
To address the issue, NELFUND said it had commenced engagements with the affected institutions and relevant authorities to ensure that eligible students receive their refunds and that institutional charges remain fair and transparent.
The student loan scheme, a flagship education financing initiative of the President Bola Tinubu administration, was introduced to improve access to higher education by providing interest-free loans to eligible students in public tertiary institutions. Under the programme, NELFUND pays tuition fees directly to institutions while approved upkeep allowances are paid into beneficiaries’ bank accounts.
Since disbursements began, the Fund has consistently warned institutions that students who paid their fees before NELFUND’s intervention are entitled to full refunds once the Fund remits the tuition on their behalf. Monday’s notice signals a tougher enforcement stance by the agency as it seeks to prevent abuses that could undermine confidence in the programme.
