Nigerian Education Loan Fund (NELFUND) has dismissed reports directing beneficiaries of the federal student loan to commence repayment.
Director of Strategic Communications of the fund, Mrs. Oseyemi Oluwatuyi in a statement said the agency had observed with concern the circulation of reports in the media and on social platforms suggesting that students were being directed to begin repayment of their loans, stressing that no such directive had been issued.
“NELFUND wishes to categorically state that these reports are false, misleading, and unfounded,” she said.
According to her, the clarification followed an earlier statement by the Vice-Chancellor of the University of Benin (UNIBEN), Professor Edoba Bright Omoregie (SAN), who disowned a purported circular outlining repayment procedures for NELFUND loans.
She said the University of Benin had confirmed that the document did not originate from the institution and that no repayment guideline has been issued by either NELFUND or the Federal Government.
“For the avoidance of doubt, NELFUND has not issued any directive requesting students to begin repayment of their loans,” she said.
She further explained that the repayment process was clearly provided under the Act that established NELFUND, which shields beneficiaries from repayment obligations until certain conditions are met.
“No beneficiary is required to repay the loan while still in school. Repayment is also not required while a beneficiary remains unemployed after graduation.
“Loan repayment only begins in line with the provisions of the law, after gainful employment, as applicable.
“NELFUND remains focused on expanding access to higher education through transparent, fair, and student-friendly financing solutions,” she said
The agency warned students, parents and institutions against spreading unverified information, urging the public to rely only on official communication channels.
“Any official information regarding loan administration or repayment will only be communicated through verified NELFUND channels and formal government platforms,” she added”