The Nigerian Schooling Mortgage Fund (NELFUND) has recognized sluggish response of tertiary establishments as the first purpose for the delay in disbursing federal authorities’s pupil loans.
This clarification got here after some college students expressed frustration over the sluggish approval course of for his or her mortgage functions.
Responding to a tweet on why college students of Olabisi Onabanjo College (OOU) are but to obtain their loans, the company recognized the sluggish tempo of tertiary establishments as the first reason for delays in disbursing the ability.
“On the verification stage, many of the accountability lies together with your establishments to verify your standing as a pupil earlier than ultimate approval is granted,” the company responded.
Equally, one other pupil, who recognized himself as @TheManAcalypha on X, a social networking service, expressed frustration that college students of the College of Medical Sciences, Ondo, had not but acquired their mortgage disbursements.
On his half, Akinola Abdulsalam, additionally a pupil, voiced his disappointment, stating that his mortgage software had been caught in limbo for over 5 months.
“I utilized for the mortgage since August 2024, each stipends and faculty charges. The mortgage for cost of tuition wasn’t acquired by me and I needed to supply some other place. Additionally, I didn’t get the stipends. That is January, when would I be getting my stipends?”
Equally, a pupil who recognized himself as Damilare_Kola, lamented that his mortgage was authorized solely after his commencement.
“I utilized for the mortgage early final yr hoping it would get authorized on time, nevertheless it didn’t, and now, it has been authorized and I’ve gotten repairs for the months of September, October and November. My important concern now could be that I graduated final yr and I’ve paid the varsity payment,” he mentioned.
On his half, a pupil of Delta State College, Abraka, Feranmi Marcus, lamented that the deadline for paying his college charges had handed, whereas he was nonetheless awaiting the disbursement of his mortgage by NELFUND.
In the meantime, the company has authorized the disbursement of N20,075 billion to 192,906 college students enrolled in public tertiary establishments throughout the federation.
An replace by NELFund on its official X deal with, revealed that the recent disbursement was launched to 133 tertiary establishments as of January 1, 2025.
In line with the breakdown, Bayero College, Kano (BUK) received the lion’s share with 11,683 college students receiving a complete of N1.3 billion, whereas Abia State Polytechnic received the smallest disbursement of N106,300 to 2 college students.
