NELFUND Debunks Claims Of Student Loan Repayment

The Nigerian Education Loan Fund, (NELFUND), has denied media reports alleging that beneficiaries of the fund’s student loan scheme had been directed to commence repayment.

NELFUND, in a statement by its director of strategic communications, Mrs. Oseyemi Oluwatuyi yesterday said the reports were false, misleading and unfounded.

The clarification followed an official statement by the vice-chancellor of the University of Benin, Prof Edoba Bright Omoregie (SAN), which disowned a purported circular currently in circulation outlining repayment procedures for NELFUND loans.

According to NELFUND, the university confirmed that the document did not originate from the institution and that no repayment guideline had been issued by NELFUND or the federal government.

Oluwatuyi further stated; “For the avoidance of doubt, NELFUND has not issued any directive requesting students to begin repayment of their loans. The repayment framework for NELFUND loans is clearly stipulated in the NELFUND Establishment Act, which provides that: No beneficiary is required to repay the loan while still in school.

“No repayment is required while a beneficiary remains unemployed after graduation and Loan repayment only commences in line with the provisions of the law, after gainful employment, as applicable.”

NELFUND reiterated its commitment to its mandate of expanding access to higher education by providing transparent, fair, and student-friendly financing solutions.

It noted that any official information regarding loan administration or repayment will only be communicated through verified NELFUND channels and formal government platforms.