NELFUND sanctions schools that withhold student loan repayments and condemns arbitrary tuition increases – THIS END

By Ayo Kehinde

The Nigerian Education Loan Fund (NELFUND) has vowed to take action against tertiary institutions that withhold tuition fee refunds owed to students under the Federal Government’s Student Loan Scheme, while condemning arbitrary increases in tuition fees and other institutional charges by some participating schools.

The Fund said it had received reports that some institutions had delayed or refused to reimburse students who had paid tuition fees before NELFUND subsequently disbursed the loans on their behalf, describing the practice as unethical and contrary to the program’s objectives.

The Director of Strategic Communications, Oseyemi Oluwatuyi, NELFUND has expressed concern that the actions of the affected institutions could undermine the credibility of the historic education funding initiative introduced by the administration of President Bola Ahmed Tinubu.

According to the Fund, the student loan program was established to eliminate financial barriers to higher education and expand access to quality learning for Nigerian students, not to create additional financial burdens through unjustified fee increases or withholding legitimate refunds.

NELFUND revealed that it has initiated engagements with relevant institutions and relevant regulatory authorities to ensure that all eligible students receive refunds without further delay.

“NELFUND is engaging relevant institutions and relevant authorities to ensure that appropriate reimbursements are made to eligible students and that institutional expenditures remain fair, transparent and consistent with the objectives of the programme,” the statement read.

The agency also disapproved of what it described as arbitrary increases in tuition and other institutional charges by some participating institutions, urging schools to maintain fair, transparent and accountable fee structures consistent with the goals of the student loan program.

Reaffirming its commitment to protect the interests and well-being of Nigerian students, NELFUND said it will take all necessary measures to safeguard the integrity and credibility of the Student Loan Scheme, describing it as a key national intervention aimed at promoting equitable access to higher education.

The Fund has reassured students, parents and other stakeholders that it will remain committed to ensuring that the benefits of the program reach the intended beneficiaries without exploitation, diversion or abuse.

He urged all participating tertiary institutions to maintain the highest standards of transparency, accountability and compliance in the implementation of the programme, stressing that the success of the program depends on the cooperation and integrity of all stakeholders in Nigeria’s higher education system.

Post views:
91