Education loan agency says institutions delaying refunds and imposing arbitrary charges risk undermining the purpose of the student loan programme….
The Nigerian Education Loan Fund (NELFUND) has expressed concern over reports that some tertiary institutions are failing to refund tuition fees to students whose school charges were later covered through the Federal Government’s student loan scheme.
The Fund said it has also received complaints about arbitrary increases in tuition and other institutional fees by some higher institutions, warning that such actions run contrary to the objectives of the education financing initiative.
In a statement issued by its Director of Strategic Communications, Oseyemi Oluwatuyi, NELFUND reiterated that the Student Loan Scheme was created by the administration of President Bola Ahmed Tinubu to make higher education more accessible by easing the financial burden on students not to create new challenges for beneficiaries.
According to the agency, some students who had already paid their tuition before their approved loans were disbursed are yet to receive refunds from their institutions, despite the payments made by NELFUND on their behalf.
The Fund disclosed that it is already engaging the affected institutions and relevant authorities to ensure eligible students are refunded without unnecessary delays.
“NELFUND 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 read.
The agency stressed that schools participating in the programme are expected to uphold transparency and fairness in their dealings with students, adding that institutional charges should remain consistent with the purpose of the student loan scheme.
It further assured beneficiaries that it remains committed to protecting their interests while safeguarding the credibility of what it described as one of the Federal Government’s landmark interventions in the education sector.
As part of its ongoing efforts, NELFUND said it will continue working with relevant stakeholders to ensure that affected students receive the refunds they are entitled to and that institutions comply with the principles guiding the implementation of the scheme.
