EDUCATION

Student Loan Funding Issues: NELFUND Explains Stipend Payment Delays

The Nigerian Education Loan Fund (NELFUND) has addressed concerns surrounding the uneven payment of students’ upkeep allowances under its updated loan scheme.

In an interview with the News Agency of Nigeria in Abuja, NELFUND Managing Director, Akintunde Sawyerr, explained that the disparities largely result from differences in application timing, institutional processes, and the evolving nature of the initiative.

Sawyerr acknowledged that while many students have raised complaints over delayed stipends, most of these issues stem from procedural and timing variations across institutions.

“It is not possible to have this kind of scheme without receiving complaints. Some of the issues are our responsibility, and some are not. In many cases, students report delays even though their applications were submitted recently. People naturally want to receive funds as quickly as possible,” he noted.
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He further explained that varying academic calendars and application timelines have made the synchronization of upkeep payments complex. To prevent double disbursements, the Fund does not make retrospective payments. Once a student applies for a new session and their application begins processing, payments for the previous session are halted, regardless of how many months’ stipends have been received.

Sawyerr admitted that some students have misunderstood the process due to a lack of prior clear communication. “We are dealing with multiple timelines in this system,” he said.
The NELFUND head emphasized that loan processing requires time for due diligence, but the Federal Ministry of Education is set to enforce stricter measures to ensure institutions refund any excess payments promptly rather than carrying them over into a new academic year.

Addressing concerns about schools allegedly inflating tuition fees, Sawyerr clarified that institutions themselves provide official fee structures during student verification. He reassured stakeholders that the system will continue to improve, aiming to eliminate discrepancies and enhance transparency throughout the process.

NELFUND’s commitment to refining its processes highlights the Fund’s efforts to ensure timely, fair, and transparent disbursement of student loans across Nigeria.
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