NELFUND Faces Criticism Over Student Loan Complications

The Nigerian Education Loan Fund (NELFUND) was introduced under President Bola Tinubu’s administration to alleviate financial burdens on students. The legislation was signed into law on April 3, 2024, and the application portal opened on May 24, 2024.

While the initiative was intended to provide hope for students facing rising education costs, some beneficiaries have encountered significant administrative challenges. Pat Madueke, a student at an undisclosed university, shared his experience with NELFUND, stating that despite applying for the loan, he faced stress and still had to pay additional fees.

His examination results were not released alongside those of his peers, leading to the need to retake courses from his 200 level. This situation has caused him to incur further expenses and delays in his academic progress.

The issues surrounding NELFUND raise concerns about the effectiveness of the program in providing timely financial assistance and maintaining accurate academic records.