The Nigerian Education Loan Fund (NELFUND) has dismissed reports circulating on social media and in some media outlets claiming that beneficiaries of the federal student loan scheme have been directed to commence loan repayment immediately.
In a statement issued on Friday, the Fund described the reports as false, misleading and unfounded, stressing that no repayment directive has been issued to any beneficiary.
NELFUND said the clarification followed an official statement by the Vice-Chancellor of the University of Benin (UNIBEN), Professor Edoba Bright Omoregie (SAN), who disowned a purported circular outlining repayment procedures.
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According to the Fund, the university confirmed that the document did not originate from the institution and that no repayment guideline has been released by either NELFUND or the Federal Government.
The Fund reaffirmed that repayment conditions are clearly stated in the NELFUND Establishment Act, which provides that beneficiaries are not required to repay loans while still in school.
It also stated that graduates who remain unemployed after completing their studies are not obligated to begin repayment, adding that loan repayment will only commence after beneficiaries secure gainful employment, in line with the provisions of the law.
NELFUND reiterated its commitment to expanding access to higher education through transparent, fair and student-friendly financing solutions, noting that all official information regarding loan administration and repayment will be communicated only through verified NELFUND channels and formal government platforms.
For enquiries, NELFUND advised the public to contact the Fund via its official email or verified social media platforms.
The statement was signed by Mrs Oseyemi Oluwatuyi, Director of Strategic Communications, Nigerian Education Loan Fund.
