In a statement issued by its Director of Strategic Communications, Oseyemi Oluwatuyi, the Fund expressed concern over reports that some institutions had either delayed or refused to refund students who paid their tuition fees before the disbursement of NELFUND loans.
NELFUND also raised the alarm over what it described as arbitrary increases in tuition fees and other institutional charges by some participating tertiary institutions.
The Fund stressed that the Student Loan Scheme, introduced by the administration of President Bola Ahmed Tinubu, was created to remove financial barriers to higher education and expand access to quality education, not to impose additional financial burdens on students.
According to the statement, NELFUND is engaging the affected institutions and relevant regulatory authorities to ensure that eligible students receive refunds where applicable.
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The agency also called on tertiary institutions to maintain fair, transparent and accountable fee structures that are consistent with the objectives of the student loan programme.
NELFUND reaffirmed its commitment to protecting the interests and welfare of Nigerian students while safeguarding the credibility and integrity of the Student Loan Scheme as a key national intervention aimed at promoting equitable access to higher education.
It urged all participating institutions to uphold the highest standards of transparency, accountability and compliance in implementing the scheme for the benefit of students and the country’s education sector.
