The Nigerian Education Loan Fund (NELFUND) has condemned what it described as unethical practices by some tertiary institutions accused of withholding tuition refunds from students and arbitrarily increasing school charges despite benefiting from the Federal Government’s student loan scheme.
The Fund, in a public notice issued on Monday by its director, strategic communications, Oseyemi Oluwatuyi, said it had received reports that some institutions were refusing or delaying refunds to students who had paid their tuition fees before NELFUND later disbursed the same fees directly to their schools.
NELFUND also expressed concern over what it described as arbitrary increases in tuition and other institutional charges by some higher institutions, warning that such actions undermine the objectives of the student loan programme.
The agency stressed that the Student Loan Scheme, introduced by the administration of President Bola Ahmed Tinubu, was created to eliminate financial barriers to higher education and not to impose fresh financial burdens on students.
According to NELFUND, it has commenced engagement with the affected institutions and relevant authorities to ensure that all eligible students receive their refunds without further delay.
It also said steps were being taken to ensure that tuition and other institutional charges remain fair, transparent and in line with the objectives of the scheme.
“NELFUND remains committed to protecting the interests of students and preserving the integrity of this landmark national intervention,” the agency stated.
The Fund reiterated its resolve to safeguard the credibility of the student loan programme and ensure that beneficiaries are not denied the full benefits of the federal government’s education financing initiative through exploitative practices by institutions.
