The Nigerian Education Loan Fund (NELFUND) has launched an investigation into about 34 tertiary institutions over allegations that they failed to refund students whose tuition fees were paid twice under the Federal Government’s student loan scheme.
Managing Director Akintunde Sawyerr disclosed that the probe is focused on institutions accused of retaining funds after students had already made tuition payments before NELFUND subsequently paid the same fees directly to their schools under the loan programme.
The investigation is expected to determine whether affected institutions complied with their obligations to reimburse students, with Brandspur Banking News Desk reporting that the outcome could strengthen accountability in the administration of the Federal Government’s student loan initiative.
Under the NELFUND scheme, approved tuition fees are paid directly to participating tertiary institutions on behalf of eligible students, while maintenance loans are disbursed to beneficiaries. Where students had already settled their tuition before NELFUND processed payment, institutions are expected to refund the duplicated amount to the affected students.
The latest investigation follows concerns over alleged delays and failures by some institutions to return excess tuition payments, raising questions about compliance with the operational guidelines of the student loan programme.
NELFUND is expected to review the allegations and work with the affected institutions to ensure that any verified cases of double payment are resolved and that eligible students receive the refunds due to them in accordance with the scheme’s procedures.
