The Nigerian Education Loan Fund (NELFUND) has condemned reports of unethical practices by some tertiary institutions, accusing them of delaying or refusing to refund students whose tuition fees had already been paid before the Fund disbursed education loans on their behalf.
NELFUND also expressed concern over what it called arbitrary increases in tuition and other institutional charges, warning that such actions undermine the objectives of the Federal Government’s student loan scheme.
The Fund made its position known in a statement issued on Monday by its Director of Strategic Communications, Oseyemi Oluwatuyi.
According to NELFUND, the student loan scheme was introduced by the administration of President Bola Tinubu to eliminate financial barriers to higher education and should not be used to impose additional burdens on students.
The agency said it is engaging the affected institutions and relevant authorities to ensure that eligible students receive refunds where tuition had already been paid before loan disbursements.
It also stressed the need for institutions to maintain fair, transparent and reasonable charges in line with the objectives of the scheme.
NELFUND reaffirmed its commitment to protecting the interests of students and preserving the integrity of the student loan programme.