The Nigerian Education Loan Fund (NELFUND) has dismissed circulating claims that beneficiaries of the federal government’s student loan scheme have been directed to begin repaying their loans, describing the reports as false, misleading, and capable of causing unnecessary panic among students nationwide.

In a statement released on Saturday in Abuja, the Fund clarified that no repayment directive has been issued to students, contrary to information spreading across social media and some online platforms.

NELFUND said the rumours misrepresent the provisions of the student loan scheme and risk creating confusion among students and their families at a time when access to education financing is expanding.

NELFUND: No Repayment While Students Are Still in School

According to the statement signed by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, the Fund stressed that repayment conditions are clearly outlined in the law establishing NELFUND.

“For the avoidance of doubt, no student is required to repay the loan while still in school,” the Fund stated. “Repayment will only commence after graduation and once the beneficiary is gainfully employed, in line with the provisions of the Act.”

NELFUND explained that the law also protects graduates who are unemployed, ensuring they are not compelled to begin repayment until they secure a source of income.

UNIBEN Disowns Alleged Repayment Circular

The clarification follows a separate disclaimer issued by the University of Benin (UNIBEN), where the Vice-Chancellor, Prof. Edoba Bright Omoregie, SAN, disowned a circular allegedly detailing repayment procedures for NELFUND loans.

UNIBEN confirmed that the document did not originate from the institution and emphasized that no repayment guidelines have been released by either the university, NELFUND, or the federal government.

The university urged students to disregard the document, describing it as fake and misleading.

Fund Reassures Students, Parents, and Institutions

NELFUND reiterated its commitment to transparency, accountability, and student welfare, noting that the student loan scheme was designed to remove financial barriers to higher education, not create anxiety for beneficiaries.

The Fund assured students and parents that it remains open to engaging with stakeholders and providing clarifications whenever necessary to prevent misinformation.

“All official information regarding loan administration, disbursement, or repayment will only be communicated through NELFUND’s verified channels and recognised government platforms,” the statement said.

Call to Ignore Fake Information

The Fund urged students, parents, tertiary institutions, and the general public to ignore the fake circular and refrain from sharing unverified information capable of heightening fear among students across the country.

NELFUND also reaffirmed that the student loan programme operates strictly within the law and is structured to be fair, student-friendly, and supportive of national education goals.

“All official updates will come directly from NELFUND through recognised channels,” they further emphasized.

The Trenet