The Nigerian Education Loan Fund (NELFUND) has condemned what it described as unethical practices by some tertiary institutions over the implementation of the Federal Government’s Student Loan Scheme, accusing them of delaying or refusing to refund students whose tuition fees had already been paid before loan disbursements were made.

The Fund also expressed concern over reports that some institutions have arbitrarily increased tuition fees and other charges, a development it said undermines the objective of the student loan initiative introduced by the administration of President Bola Tinubu to expand access to higher education.

In a statement on Monday, signed by the Fund’s Director, Strategic Communications, Oseyemi Oluwatuyi, she explained that the student loan programme was established to eliminate financial barriers confronting Nigerian students and not to create additional burdens for beneficiaries through unfair institutional practices.

The spokesperson disclosed that it is already engaging the affected tertiary institutions and relevant authorities to address the reported infractions. She said efforts are underway to ensure that eligible students who had paid their fees before NELFUND released funds receive the refunds due to them.

NELFUND further stressed that institutional charges must remain fair, transparent and consistent with the objectives of the student loan scheme, warning against actions capable of eroding public confidence in the landmark intervention.

“The Student Loan Scheme was established to remove financial barriers to higher education, not to create additional burdens for Nigerian students,” the Fund stated.

Reaffirming its commitment to the programme, NELFUND assured students that it would continue to protect their interests while safeguarding the integrity and credibility of the Federal Government’s flagship education financing initiative.