Nigeria Education Loan Fund Addresses Misleading Claims on Student Loan Payment Suspension
The Nigeria Education Loan Fund has firmly dismissed a report circulating online that falsely claims the Federal Government has halted maintenance fee payments to students participating in the Student Loan Scheme.
In a statement released by its Director of Strategic Communications, Mr. Oseyemi Oluwatui, the organization condemned the misleading publications as unfounded and designed to create unnecessary anxiety among students and stakeholders.
NELFUND categorically denied the reports, particularly those attributing false statements to its officials and referencing an AI-generated version of the Nigeria Tribune. These accounts are not only inaccurate but also crafted to sow distrust and confusion within the student community and the public.
The fund emphasized that, to date, no directives have been issued by either the Federal Government or NELFUND regarding the suspension of maintenance payments. It further clarified that the misleading information circulating does not originate from its official channels or any government-approved platforms.
In addressing the viral imagery of a fictitious newspaper, NELFUND declared it to be entirely fraudulent. The agency reiterated its commitment to transparency and operational efficiency, asserting its dedication to the ongoing distribution of student loans and maintenance fees as per its mandate.
Stakeholders and beneficiaries are urged to disregard these false claims and rely solely on verified information disseminated through official communication avenues. NELFUND cautioned against the spread of unverified content, stressing that such misinformation causes unnecessary panic for students and their families nationwide.
The fund remains resolute in its mission to broaden access to higher education and support Nigerian students with sustainable financial solutions. Since its inception, NELFUND has disbursed over N206 billion in loans, assisting more than 1.6 million students enrolled in tertiary institutions across the country. The loan application portal was opened on May 24, 2024, following the establishment of the Student Loan Act aimed at helping eligible students overcome financial barriers to education.
This initiative ensures that beneficiaries, especially those facing financial difficulties, receive funding for tuition and living expenses, with repayment expected only after they graduate and secure employment. This arrangement aims to strike a balance between sustainability for the fund and financial relief for students.
