Nigerian Education Fund to Act Against Universities' Unethical Practices

The Nigerian Education Loan Fund (NELFUND) has issued a strong condemnation of unethical practices by some tertiary institutions, accusing them of withholding tuition refunds and arbitrarily increasing school charges. These actions have occurred despite the institutions benefiting from the federal government's student loan scheme.

NELFUND received reports that certain institutions are delaying or refusing to issue refunds to students who had already paid their tuition fees before the fund disbursed payments directly to the schools. The agency also expressed concern over unjustified hikes in tuition and other institutional fees, warning that such moves undermine the core objectives of the student loan program.

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

The Student Loan Scheme, established under President Bola Ahmed Tinubu's administration, aims to dismantle financial barriers to higher education. NELFUND emphasized that the scheme was not intended to create new financial burdens for students but rather to ease existing ones.

In response, NELFUND has initiated engagement with the implicated institutions and relevant authorities. The goal is to expedite the processing of refunds for all eligible students and to ensure that tuition and other charges are maintained at fair and transparent levels, consistent with the scheme's objectives. The fund reiterated its commitment to safeguarding students' interests and upholding the integrity of this significant national initiative.

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He reiterated the Fund’s resolve to safeguard the credibility of the student loan programme and ensure that beneficiaries were not denied full benefits of the federal government’s education financing initiative through exploitative practices by institutions.