The Nigerian Education Loan Fund (NELFUND) has announced plans to prevent students from benefiting from its loan scheme while still relying on their parents to pay their school fees.
The Managing Director of NELFUND, Akintunde Sawyerr, disclosed this during a press briefing on Wednesday, saying the fund had identified cases of students allegedly receiving support through the scheme while continuing to depend on their parents for tuition payments.
Sawyerr said the development had prompted plans to strengthen transparency in the administration of the student loan scheme and educate students, parents and tertiary institutions about changes to the payment system.
“This comment is based on our recognition that there are so many students out there who are double-dipping. They are taking from NELFUND and still stressing their parents,” he said.
He added: “We are going to put an end to that.”
The managing director explained that the fund would introduce an arrangement allowing parents to confirm whether their children’s school fees had been paid without necessarily being given details of the amount involved.
According to him, the measure is intended to provide greater clarity for parents who remain financially responsible for their children’s education, while ensuring that the loan payment process is better understood.
The planned changes form part of NELFUND’s efforts to improve transparency and accountability in the administration of its student loan scheme.
