The Nigerian Education Loan Fund (NELFUND) has asked the University of Lagos (UNILAG) to refund tuition fees to students who have received disbursements under the federal student loan scheme.
Speaking during a sensitisation session at the institution, NELFUND Managing Director Akintunde Sawyerr said the refunds would address complaints from students who paid their fees before the funds reached the university.
He also reminded tertiary institutions across the country that they must not deny access to academic activities for students whose loans have been approved but are still in processing. According to him, this principle was agreed upon during the initial rollout of the programme.
Representing Mr Sawyerr, NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, urged institutions to scale up awareness campaigns on campuses to improve participation. She also appealed to students who relocate abroad to remain committed to repaying their loans.
Responding to the matter, UNILAG Vice-Chancellor Professor Folasade Ogunsola confirmed that the university had begun refunding affected students and would continue as long as valid bank details were provided. She attributed the overlap to a timing mismatch between NELFUND disbursements and the university’s academic calendar.
The Vice-Chancellor, represented by Dean of Student Affairs Professor Musa Obalola, commended the initiative, saying that even with relatively low fees at public universities, many students still face financial hardship. She described the loan scheme as a “zero-interest, transformative step” toward expanding access to education.
Providing an update on the rollout, NELFUND’s Head of IT, Wale Ogunleye, said 7,112 students from UNILAG had applied for the loan. Of those, 5,566 applications were approved, with funds disbursed to 4,636 students.
The student loan initiative is part of a broader federal strategy to remove financial barriers to higher education and support economically disadvantaged students.
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