NELFUND cracks down on institutions withholding student loan refunds

The Nigerian Education Loan Fund (NELFUND) has initiated a crackdown on tertiary institutions allegedly withholding refunds for students who paid tuition before the government's loan scheme disbursed funds.

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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.

NELFUND issued a public notice condemning these delays and outright refusals, as well as reports of arbitrary increases in tuition and other fees. The fund emphasized that such practices undermine the core objectives of the student loan program, which aims to eliminate financial barriers to higher education.

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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 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," NELFUND stated. The organization is actively engaging with the implicated institutions and relevant authorities to ensure that eligible students receive their rightful refunds and that institutional charges are maintained at fair and transparent levels.

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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.

This intervention follows numerous complaints from beneficiaries of the scheme who have experienced delays in receiving their tuition fee refunds, even after institutions confirmed receipt of payments from NELFUND. The fund reiterated its commitment to safeguarding student interests and maintaining public trust in this significant national initiative.

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NELFUND remains committed to protecting the interests of students and preserving the integrity of this landmark national intervention.