NELFUND Orders Refunds for Students Charged Twice for Tuition
The Nigerian Education Loan Fund (NELFUND) has taken a firm stance to protect student loan beneficiaries who were mistakenly billed twice for tuition fees. In a statement issued by its Managing Director, Mr. Akintunde Sawyerr, NELFUND has directed all tertiary institutions involved to refund the affected students immediately or return the excess funds to NELFUND for proper disbursement.
This directive comes in response to several complaints from students who noticed they had been charged tuition by their schools even after their loan applications were approved and processed by NELFUND. In many cases, students ended up paying twice—once out of pocket and again through the student loan scheme.
“Such actions threaten the trust placed in this vital intervention. Institutions must show accountability and prioritize student welfare,” Mr. Sawyerr emphasized.
According to NELFUND, institutions that refuse to comply will be flagged for non-compliance and reported to relevant authorities. Already, government anti-corruption agencies such as the ICPC and EFCC have launched investigations into the matter.
The Student Loan Act, signed into law in 2023 and amended in April 2024, allows eligible Nigerian students to access interest-free loans to cover tuition and other fees. Repayment begins only after students complete their National Youth Service and secure employment, with 10% of their monthly salary deducted at source.
This recent development underscores NELFUND’s commitment to ensuring transparency, accountability, and fairness in Nigeria’s student loan program.
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