The Nigerian Education Loan Fund has directed the University of Lagos to refund fees paid by students who later received financial support from the Fund.
NELFUND’s Managing Director, Akintunde Sawyerr, made the call during a sensitization meeting with UNILAG students on Wednesday.
Represented by the Director of Strategic Communications, Oseyemi Oluwatuyi, Sawyerr explained that the refund aims to address complaints from students who paid their fees before the Fund disbursed their loan payments to the university.
He also reminded tertiary institutions nationwide of their agreement with NELFUND not to bar students from academic activities due to unpaid fees, especially those who have applied for and been verified under the loan scheme.
Sawyerr emphasized the importance of continued campus sensitization to increase student participation in the scheme. He also advised beneficiaries who plan to migrate abroad to honour their loan repayment obligations after relocation.
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Responding, UNILAG Vice-Chancellor, Prof. Folasade Ogunsola, represented by the Dean of Student Affairs, Prof. Musa Obalola, confirmed that refunds have been made to many students. She assured that refunds for others are in the final stage and urged students to provide accurate bank details to facilitate seamless payments next week.
The VC attributed the fee payment mix-up to a mismatch between NELFUND’s disbursement calendar and the university’s academic schedule. She praised the student loan scheme for providing financial relief, noting that despite relatively low fees in public universities, many students still struggle to pay.
She commended the federal government’s intervention, describing the zero-interest loan as a game-changer for access to quality education.
During the session, NELFUND’s Head of IT, Wale Ogunleye, revealed that 7,112 UNILAG students had registered for the loan, 5,566 were approved, and disbursements had been made to 4,636 students.
Ogunleye urged applicants to ensure they meet eligibility criteria, including Nigerian citizenship, confirmed undergraduate admission, and uploading admission letters and student ID cards on the portal.
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