NELFUND assures timely disbursement of student loans
By Uji A Iliyasu, Abuja
The Nigerian Education Loan Fund (NELFUND) has addressed the delays in student loan approvals and disbursements, assuring that, barring unforeseen issues from institutions, tuition fees will now be disbursed within five working days.
This assurance was given by Aliyu Mohammed, Director of Monitoring and Evaluation at NELFUND, during a strategic engagement with the management and students of The Polytechnic, Ibadan, Oyo State.
Mohammed emphasized that the agency has continuously improved its systems for greater efficiency, accountability, and timely disbursement. He called on schools and students to support these efforts by providing accurate and timely information.
He also reiterated that while the application process remains unchanged, system upgrades have been made to improve performance. He disclosed that over 6,000 student loan applications have been successfully submitted and are currently being processed, with thousands of students already benefiting from the scheme.
The Acting Rector of the institution, Dr. Abiden Taiwo Lasis, apologized for earlier confusion that led to students being asked to pay tuition fees due to delays in loan disbursement. He explained that the institution, facing financial pressure, had to take action to sustain operations during the prolonged wait.
“After an eight-month delay, we were compelled to request payment from students to keep the school running. However, with NELFUND’s renewed assurance, we will now rely on them for timely disbursements,” he said.
Dr. Lasis also commended NELFUND for organizing a recent workshop in Abuja, which clarified the loan process for key school officials.
Meanwhile, Dr. Florence Babalola, Director of ICT, revealed that the school is processing refunds for around 25 students who had already paid their tuition before receiving their loans. She said the affected students have been asked to visit the student affairs department to complete the refund process.
Student Union Government (SUG) President, Oladipupo Daniel, acknowledged the growing awareness of the loan scheme, attributing the rise in applications to sustained sensitization efforts. He pledged to continue promoting the programme so more students can benefit.