The Nigerian Education Loan Fund (NELFUND) has disclosed that no fewer than 34 tertiary institutions are under investigation over allegations of withholding tuition refunds due to students and imposing arbitrary increases in institutional charges despite receiving student loan disbursements.
In a public notice issued in Abuja, NELFUND condemned what it described as unethical practices by some beneficiary institutions participating in the Federal Government’s student loan scheme.
The agency said it had received reports that some institutions were delaying or refusing to refund students whose tuition fees had already been paid before NELFUND disbursed funds on their behalf.
It also expressed concern over what it termed arbitrary increases in tuition and other institutional charges.According to the Fund, the affected institutions currently under investigation have risen to 34, as authorities intensify efforts to safeguard students from exploitation and ensure compliance with the objectives of the student loan programme.
NELFUND stressed that the Student Loan Scheme, introduced under the administration of President Bola Ahmed Tinubu, was designed to remove financial barriers to higher education and not to create additional burdens for students.
“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.
The Fund disclosed that it is engaging the affected institutions and relevant authorities to ensure that eligible students receive due refunds and that institutional charges remain fair, transparent and consistent with the objectives of the 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 agency stated.
NELFUND reaffirmed its commitment to protecting the interests of students and preserving the integrity of what it described as a landmark national intervention aimed at expanding access to higher education.
The statement was signed by the Director of Strategic Communications, Oseyemi Oluwatuyi.
