NELFUND addresses student loan delays, assures faster disbursements
By Uji A Iliyasu, Abuja
The Nigerian Education Loan Fund (NELFUND) has announced that it has resolved several issues responsible for the unexpected delays in the approval and disbursement of student loans to institutions and students.
According to the agency, barring unforeseen errors or challenges from the schools, loan disbursement for tuition fees will now be processed 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, in Oyo State.
Mohammed emphasized NELFUND’s ongoing commitment to improving its systems for better efficiency, effectiveness, and accountability. He appealed to schools and students to support these efforts by providing accurate and timely information during the application process.
During an interactive session with the students, Mohammed clarified that while the loan application conditions and processes remain unchanged, continuous investments are being made to enhance system performance and ensure timely disbursements.
He revealed that thousands of students have already benefited from the student loan programme, and over 6,000 applications have been successfully submitted and are currently being processed.
He also commended the school’s management for their support of the initiative, assuring that applications from the institution would receive prompt attention moving forward.
Responding to NELFUND’s assurance, the Acting Rector of The Polytechnic, Ibadan, Dr. Abiden Taiwo Lasis, apologized for a recent mix-up in which students were asked to pay tuition fees due to delays in loan disbursement.
“We took that decision after experiencing an eight-month delay in accessing loan disbursements,” he explained. “Normally, students pay 60 percent of their fees in the first semester and the balance in the second. But our second semester began in September last year, and for several months, we heard nothing from NELFUND.”
He noted that, as a state-owned institution, the school faced financial obligations—including salaries and electricity bills—and had to temporarily shift the burden to students to stay operational.
“However, with the renewed assurance from NELFUND, we are now confident in relying on the fund for timely support,” Dr. Lasis added.
He also appreciated NELFUND for organizing a recent workshop in Abuja for key institutional staff, which he said provided vital clarification and insights into the student loan programme.
Also speaking, the school’s Director of ICT, Dr. Florence Babalola, disclosed that the process of refunding tuition fees to about 25 students—whose fees have now been covered by NELFUND—is currently underway.
“These students had earlier paid out of pocket but have since received disbursements through the loan scheme. We’ve notified them to visit the student affairs department to complete the necessary refund documentation,” she said.
The President of the Student Union Government (SUG), Oladipupo Daniel, highlighted the union’s role in sensitizing students about the loan scheme. He credited the increased number of applications to these awareness efforts and pledged to continue promoting the programme to ensure more students benefit.