Nigeria Education Loan Fund Addresses Misleading Reports on Student Loan Maintenance Fees
The Nigeria Education Loan Fund (NELFUND) has refuted claims circulating online that the Federal Government has suspended maintenance fee payments to students enrolled in the Student Loan Scheme. In a statement released on Thursday, the Fund’s Director of Strategic Communications, Mr. Oseyemi Oluwatui, labeled the reports as false and misleading, aimed at causing unnecessary panic among students and other stakeholders.
In the statement, NELFUND emphasized its commitment to transparency, condemning the publications that are misleading the public. Reports, including those falsely attributed to the organization and an AI-generated image of a newspaper titled Nigeria Tribune, have been described as completely fabricated. NELFUND asserted that these materials are intended to foster confusion and mistrust among beneficiaries and the wider community.
The Fund firmly stated that there has been no directive from either the Federal Government or NELFUND concerning any suspension of maintenance allowances. Moreover, the agency clarified that the spread of these false claims did not originate from its official communication channels or any government-sanctioned platforms.
Addressing a particular viral newspaper image, NELFUND declared it a fabricated document, reinforcing its commitment to the accurate dissemination of information. The foundation reaffirmed its operational principles, highlighting its dedication to efficient disbursement of both student loans and maintenance fees in alignment with its mission.
Stakeholders and the general public are urged to disregard these false narratives and instead rely on verified information communicated through official channels. NELFUND has issued a warning regarding the propagation of unverified content, noting that it contributes to misinformation and undue anxiety for students and parents across Nigeria.
In the spirit of its mission, the Fund remains committed to increasing access to higher education and supporting Nigerian students through sustainable financial initiatives. To facilitate inquiries or provide assistance, NELFUND has directed the public to its official contact methods, including email and verified social media platforms on X (@nelfund), Instagram (@nelfund), Facebook, and LinkedIn.
Since the program’s inception, NELFUND has disbursed over N206 billion in loans to assist more than 1.6 million students in tertiary education across Nigeria. The loan application portal was opened on May 24, 2024, following the enactment of the Student Loan Act, which aims to offer financial support to eligible students at public higher education institutions. This initiative is particularly focused on those facing barriers to financing their education.
Beneficiaries of the Student Loan Scheme are expected to initiate repayments only after completing their studies and securing employment, a strategy designed to ensure that the program remains sustainable while minimizing the financial burden on students.
