The Nigerian Education Loan Fund has threatened to take action against tertiary institutions allegedly withholding tuition refunds from students who paid their fees before receiving loans under the Federal Government’s Student Loan Scheme.
NELFUND also expressed concern over what it described as arbitrary increases in tuition fees and other institutional charges by some higher institutions, warning that such practices undermine the objectives of the student loan initiative.
In a statement issued on Sunday by its Director of Strategic Communications, Oseyemi Oluwatuyi, the Fund said it had received reports that some institutions were delaying or refusing to refund students whose tuition fees had already been settled before NELFUND disbursed their loans.
According to the agency, the student loan scheme introduced by the administration of President Bola Tinubu was designed to remove financial barriers to higher education, not to impose additional hardship on beneficiaries.
The statement read, “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 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 disclosed that it had commenced engagements with the affected institutions and relevant authorities to ensure that students entitled to refunds receive their money without further delay.
It also stressed the need for institutions to maintain transparent and fair fee regimes that align with the objectives of the loan scheme.
“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,” the statement added.
The Fund reaffirmed its commitment to safeguarding the interests of Nigerian students and preserving the credibility of the Federal Government’s student loan programme.
The warning comes amid growing concerns from beneficiaries over delays in refunds and rising tuition charges in some tertiary institutions despite the implementation of the student loan scheme.
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