JUST IN: NELFUND raises alarm over tuition fee hikes by tertiary institutions

The Nigerian Education Loan Fund (NELFUND) has raised concerns over what it described as arbitrary increases in tuition fees and other institutional charges by some tertiary institutions, warning that such practices undermine the objectives of the Federal Government’s student loan scheme.

In a statement signed by Director of Strategic Communications, Oseyemi Oluwatuyi, on Monday, NELFUND said it had also received reports that some institutions were delaying or refusing to refund students whose tuition fees had already been paid before the Fund disbursed their loans.

“The Nigerian Education Loan Fund (NELFUND) has noted with concern reports of some tertiary institutions delaying or refusing to refund students whose tuition fees had already been paid before NELFUND disbursements, as well as arbitrary increases in tuition and other institutional charges,” the statement read.

According to the Fund, the Student Loan Scheme, an initiative of President Bola Ahmed Tinubu’s administration, was created to remove financial barriers to higher education and should not become an avenue for imposing additional burdens on students.

“The Student Loan Scheme… was established to remove financial barriers to higher education, not to create additional burdens for Nigerian students,” NELFUND stated.

The agency disclosed that it is engaging the affected institutions and relevant authorities to ensure eligible students receive due refunds and that school charges remain fair and transparent.

“NELFUND is engaging the affected institutions and relevant authorities to ensure that due refunds are made to eligible students and that institutional charges remain fair, transparent, and consistent with the objectives of the Scheme,” the statement added.

NELFUND reaffirmed its commitment to protecting students’ interests and preserving the integrity of the student loan programme, describing it as a landmark national intervention.