NELFUND debunks rumors of immediate student loan repayment

By Matthew Denis

The Nigerian Education Loan Fund (NELFUND) has firmly dismissed social media reports alleging that loan beneficiaries have been directed to commence repayment immediately.

In a statement, the agency described the reports as false, misleading, and unfounded.

This clarification comes in the wake of an official disclaimer by the Vice-Chancellor of the University of Benin (UNIBEN), Professor Edoba Bright Omoregie (SAN), who disowned a purported circular outlining repayment procedures.

The university confirmed that the document did not originate from the institution and emphasized that no such repayment guideline has been issued by either NELFUND or the Federal Government.

For the avoidance of doubt, NELFUND reiterated that it has not issued any directive requesting students to begin servicing their loans.

The agency clarified that the repayment framework is strictly governed by the NELFUND Establishment Act. Under the law, no beneficiary is required to repay the loan while still in school or while unemployed after graduation. Repayment obligations only commence when the beneficiary secures gainful employment.

Reaffirming its commitment to expanding access to higher education through transparent and student-friendly financing, NELFUND urged students, parents, and the general public to disregard the fake circulars.

The Fund advised stakeholders to rely solely on verified channels for official information to avoid spreading unverified claims capable of causing unnecessary anxiety among the student population.