In a public notice issued on Monday, the Fund disclosed that it is engaging the affected institutions and relevant authorities to ensure that eligible students receive their refunds. It also frowned at reports of arbitrary increases in tuition fees and other institutional charges, warning that such actions undermine the purpose of the student loan programme.
According to NELFUND, it has received complaints that some institutions have either delayed or refused to refund students who had settled their tuition fees before the Fund later paid the same fees directly to the institutions on the students’ behalf.
“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 statement partly read.
The Fund stressed that the student loan initiative was created to expand access to higher education by easing financial challenges faced by students, not to impose additional costs on beneficiaries.
“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 Fund stated.
NELFUND said it has already commenced discussions with the affected institutions and other relevant authorities to ensure that refunds are processed promptly and that charges imposed by schools remain reasonable and transparent.
“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,” it said.
The agency reaffirmed its commitment to safeguarding the interests of students while maintaining the credibility of the Federal Government’s education financing initiative.
“NELFUND remains committed to protecting the interests of students and preserving the integrity of this landmark national intervention,” the statement added.
The latest move comes amid growing complaints from beneficiaries who said some tertiary institutions have yet to return tuition fees they paid before NELFUND settled the same obligations directly with the schools. Several students have also reported delays in receiving their refunds despite confirmation that the institutions had already received payment from the Fund.
The student loan programme, introduced by the administration of President Bola Ahmed Tinubu, is designed to improve access to higher education through interest-free loans for eligible students in public tertiary institutions. Under the scheme, NELFUND pays tuition fees directly to institutions, while approved upkeep allowances are credited into beneficiaries’ bank accounts.
Since the commencement of disbursements, the Fund has repeatedly reminded institutions that students who paid their tuition before NELFUND’s intervention are entitled to full refunds once the tuition is remitted on their behalf. Monday’s notice signals a tougher enforcement approach aimed at preventing practices that could erode public confidence in the scheme.