Students from over 23 public universities and polytechnics in Nigeria are expressing their concerns regarding the delayed disbursement of approved loans from the Nigerian Education Loan Fund (NELFUND). With looming deadlines for tuition payments and exams, many students find themselves in a precarious financial situation.
The Students Loan (Access to Higher Education) (Repeal and Re-enactment) Act was signed into law by President Bola Tinubu on April 3, 2024, aimed at providing sustainable funding for higher education. Since its inception, the Fund has reported over 364,000 student loan applications and has disbursed more than N20 billion for institutional fees, impacting close to 193,000 students.
Despite these figures, the delay in disbursement has sparked frustration among students from notable institutions, including the University of Nigeria Nsukka, Obafemi Awolowo University, and Ladoke Akintola University. Many students are facing rapidly closing school portals as examination dates approach, further heightening their distress.
One affected student reported, “I am a University of Maiduguri student who has been waiting for my approved loan since August. I’m in a crisis with the deadline approaching!” Another student from Nnamdi Azikiwe University expressed similar concerns about impending registration deadlines for exams.
The situation has escalated, with several universities issuing statements warning students about the ramifications of unpaid tuition fees. A representative from Aliko Dangote University emphasized the urgency of the issue, stating that failure to meet payment deadlines could lead to severe academic consequences.
In discussions with a NELFUND official who requested to remain anonymous, the delays were attributed to slow responses from universities during the verification process. The official noted that once payments are approved, the data must be verified by the schools, and delays often occur when institutions fail to act swiftly.
As students continue to voice their frustrations over social media and through official channels, the pressure mounts on NELFUND and participating universities to resolve these issues promptly, allowing students to focus on their education without the burden of financial uncertainty.
