The Nigeria Education Loan Fund (NELFUND) has faced mounting criticism after several graduates revealed that they received student loans and upkeep stipends months after completing their studies.
According to Daily Punch, some affected individuals shared how they applied for the student loan scheme before graduation but experienced prolonged delays in disbursement. To their surprise, the loans were eventually paid long after they had independently settled their tuition and left their respective institutions.
“I registered for NELFUND when I desperately needed funds to pay my second-semester final year fees. But the approval didn’t come in time, so I sourced the money myself and paid the school. I eventually graduated, only to later discover via my student portal that NELFUND had paid my fees in full,” said one graduate. “I contacted them and was told to request a refund from the school. But how do I request a refund for a fee I’ve already paid and when I’m no longer a student?”
He added, “I also keep receiving upkeep money despite informing them I’ve graduated. When repayment begins, I’ll return the upkeep funds. But I will not repay the institutional fee, they paid it after I had already graduated and settled my dues.”
Another graduate from the University of Benin (UNIBEN) voiced a similar experience. “I applied for the loan in my final days as a 400-level student. I waited for months but had to pay the fees myself before my final exams. Last month, I suddenly got a N20,000 upkeep payment and discovered my loan had just been approved—months after graduation. NELFUND is handling this poorly. Why are you disbursing loans to graduates? This shows serious inefficiency in the system.”
CREDIT: DAILY POST