• 600,000 students on registration list
All tertiary institutions have been directed by the Nigerian Education Loan Fund (NELFUND) to refund fees paid by students who applied and were “verified” before their loans were remitted to them.
NELFUND also called on the institutions not to bar any ‘’verified’’ student under the loan scheme from academic activities, including examinations, due to non-payment of tuition.
NELFUND Managing Director/Chief Executive Officer Akintunde Sawyerr, said universities, polytechnics and other tertiary institutions needed to keep to the agreement they have with the agency to make the scheme seamless.
He said compliance with the order would go a long way in addressing some of the complaints by many of the ‘’beneficiaries.’’
As of 8.21 pm yesterday, a post on the NELFUND website showed that 597,337 students had registered for the loan, out of which 547,954 had successfully applied.
On May 7, Sawyerr told the House of Representatives Committee on Students Loan that N54 billion had been disbursed by the agency.
At the University of Lagos (UNILAG), Akoka, one of the institutions where the agency took its sensitisation campaign yesterday, Sawyerr said it was heart-warming that the authorities had commenced a refund to students who hitherto paid their fees.
The NELFUND boss, represented by Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, said: “This(directive) doesn’t apply to UNILAG alone. It applies to all institutions that have received institutional fees for beneficiaries of the student loan scheme.
“UNILAG has commenced a refund of fees paid by some students, and we expect other institutions to do the same.
“We want to also remind tertiary institutions across the country of their agreement with NELFUND not to bar students from academic activities due to non-payment of fees, particularly students who have applied for, and have been verified under the loan scheme.
‘’They signed a memorandum of understanding to that effect, and NELFUND expects them to keep to that agreement. “
The NELFUND chief reemphasised the importance of continued sensitisation on campuses to boost students’ participation in the scheme.
He also advised prospective migrants among the beneficiaries to honour the loan obligations after relocating abroad.
UNILAG Vice-Chancellor Folasade Ogunsola, who was represented by the Dean of Student Affairs, Musa Obalola assured students yet to be refunded that the process was in its final stage.
She advised them to provide accurate bank details to facilitate the refund next week.
Ogunsola attributed the mix-up over payment of fees to a mismatch between NELFUND’s disbursement calendar and the university’s academic schedule.
Praising the Federal Government for the scheme, she noted that despite the modest fees in public universities, many students still struggle to pay.
The Vice-Chancellor described the zero-interest loan as a game-changer for access to quality education.
During the session, NELFUND’s Head of Information Technology, Wale Ogunleye, said out of 7,112 UNILAG students that registered for the loan, 5,566 were approved and disbursements made to 4,636.
At the University of Port Harcourt, Choba in Rivers State, the NELFUND boss said narratives on the alleged fraud in the disbursement of the loan were premature.
Sawyerr, who was represented by NELFUND Director in charge of Administration Zino Ugboma reiterated the agency’s commitment to transparency.
He said: “The system may not be perfect, but we are trying to make it as humanly effective as possible.
“Sabotage and misinformation can ruin what should be a transformative programme for the country.’’
Sawyerr warned against sensationalism and urged stakeholders to focus on refining the system for the benefit of Nigerians.
He said the number of UNIPORT students that have signed up for the loan had increased to 4,000, making them the highest in the institutions in the state.
He said: “As of this(yesterday) morning, we have close to 600,000 students nationwide who have registered for the programme. UUNIPORT’s 4,000 students are a major part of that success.’’
Vice-Chancellor of the university, Prof. Owunari Georgewill, blamed the low interest in the scheme by Southsouth and Southeast students on deep-rooted cultural resistance.
Georgewill said families in the two zones were reluctant to associate their children with debt despite the loan being interest-free.
He added that UNIPORT’s N78,000 tuition per year makes it easy for many families to pay without subscribing to the loan scheme.
He revealed that of the institution’s student population of 40,000, only 1,800 were currently benefiting from the loan scheme.
Georgewill advised the government to tag the programme a ‘repayable grant’, noting that this would make parents feel their children are not going to school through loan.
The Vice-Chancellor said: “Despite our advocacy, the word `loan’ is discouraging students from participating in the scheme.
“We can coin it to be a repayable grant which will make parents feel their children are not going to school through loan.’’
Georgewill also dismissed the alleged fraud in the scheme as baseless.
The NELFUND officials also visited Ignatius Ajuru University of Education, Port Harcourt, for the sensitisation campaign.
Agency set to disburse loan to 6,004 Ibadan Poly students
At the sensitisation in The Polytechnic Ibadan (TPI), the agency said it will, in a fortnight, disburse loans to 6,004 students of the institution.
Team Lead NELFund and Director Monitoring and Evaluation, Aliyu Muhammad, said over 300 tertiary institutions were being catered for under the scheme.
He added that the agency’s portal currently has over three million applications.
Muhammad said: “We are assuring you that in the next two weeks, your tuition will be credited to your school account.
“It will be followed by the 20,000 monthly stipend for each student.”
The team lead also said that NELFund had opened a job portal that would enable beneficiaries of the loans to get automatic employment after leaving school.
He added that the agency has been working with security and anti-graft agencies to ensure zero misappropriation and seamless access to education loans by students.
Muhammad said: “We’ve been working seriously with the security agencies and the graft agencies.
“You’ve heard allegations, and I guess at the same time, you’ve heard that these allegations are false.
“It is confirmed to be false. So the process is seamless and we don’t have any issues moving forward.”
