The Nigerian Education Loan Fund (NELFUND) has expressed concern over reports that some tertiary institutions are withholding or delaying refunds owed to students who paid their tuition fees before receiving their student loans.
The Fund also raised the alarm over what it described as unjustified increases in tuition and other institutional charges by some higher institutions, warning that such actions could undermine the purpose of the Federal Government’s Student Loan Scheme.
In a statement issued by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, the agency reaffirmed that the student loan programme introduced under the administration of President Bola Tinubu was designed to eliminate financial barriers to higher education, not create additional challenges for beneficiaries.
According to the statement, NELFUND is already engaging the affected institutions and other relevant authorities to ensure that eligible students receive refunds where tuition fees had been paid before the Fund disbursed the loans.
The agency stressed that institutions must also maintain fair and transparent fee structures that align with the objectives of the scheme.
“The Nigerian Education Loan Fund (NELFUND) 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 read.
It added that the Student Loan Scheme remains a key intervention by the federal government to expand access to tertiary education by easing the financial burden on students and their families.
“The Student Loan Scheme, an initiative of the administration of President Bola Ahmed Tinubu, GCFR, was established to remove financial barriers to higher education, not to create additional burdens for Nigerian students,” the statement said.
NELFUND assured beneficiaries that it would continue working with the affected institutions to ensure compliance with the scheme’s guidelines and safeguard students’ interests.
“NELFUND is engaging the affected institutions and relevant authorities to ensure that due refunds are made to eligible students and that institutional charges remain fair, transparent, and consistent with the objectives of the Scheme.
“NELFUND remains committed to protecting the interests of students and preserving the integrity of this landmark national intervention.”
The Fund reiterated its commitment to ensuring the effective implementation of the student loan programme and called on tertiary institutions to uphold transparency and accountability in their dealings with beneficiaries.
