NELFUND Student Loan: Upkeep Alignment, Strike Disruptions, Travel Fears, Refund Irregularities, and Data Duties — The Clarifications You Need

NELFUND Student Loan: Upkeep Alignment, Strike Disruptions, Travel Fears, Refund Irregularities, and Data Duties — The Clarifications You Need

In his recent Channels Television appearance, the Managing Director of the Nigerian Education Loan Fund (NELFUND) addressed several issues that have generated confusion among students and institutions.

VIDEO CREDIT : Nelfund

Below, we unpack those clarifications in plain language, sticking strictly to what he said and preserving our editorial neutrality.

1) Upkeep Disbursement Is Tied to the Academic Calendar — Not to Delays After It Ends

NELFUND’s upkeep payments are aligned to each institution’s official academic calendar as uploaded in advance. Once that session—according to the already-uploaded calendar—ends, upkeep stops.

• If a university’s calendar states the session closes in August, upkeep ends in August.
• If, due to strike or any other disruption, examinations shift into September, upkeep does not continue into September merely because activities slipped.
• The Fund’s position is that it works with the calendar submitted ahead of time. The disbursement plan follows that instrument; it is not recalibrated on the fly to absorb unplanned extensions.

Implication (strictly from his clarification): where strikes create an imbalance between the planned calendar and actual end-dates, the cut-off for upkeep remains the original, uploaded session end. The Fund should not be blamed for non-payment beyond that pre-agreed schedule.

Illustrative scenario provided: if a school planned to start exams in August (signaling session closure on that calendar) but, following a strike, shifts those exams to September, upkeep still ends in August because that is what the uploaded calendar specified.

2) Travel Concerns: “Not a Slave Contract”

The MD directly rebutted the claim that students who access the loan cannot travel abroad. He described the scheme as “not a slave contract.”

• Students who take the loan remain free to travel.
• Borrowers are, however, responsible for repayment—the freedom to relocate does not cancel the obligation to pay back.

Implication (as stated): the loan does not function as a restriction on movement. It is financial support with a repayment duty, not an instrument to confine beneficiaries within the country.

3) Private Institutions: Not Eligible Yet

When asked about private universities and other privately owned tertiary institutions, the MD stated that they are not yet eligible under the current phase.

• Presently, the Fund is catering to federal- and state-owned institutions.
• Inclusion of private institutions is a future consideration the Fund is “working towards,” but is not active yet under existing allocations.

Implication (per his remark): students in private institutions should not expect loan access now; any change depends on later arrangements and resourcing that the Fund has signaled it is exploring.

4) Refunds After Late Disbursement: Under-Refunds, Bank Charges, and Who Investigates

The MD also addressed the refund problem that occurs in a specific sequence:

1. A student applies for the NELFUND loan.
2. Approval comes, but disbursement to the institution happens after the student has already paid from personal funds (or after a course payment deadline has passed).
3. The institution then receives NELFUND money for that same fee and is expected to refund the student the equivalent amount (e.g., ₦100,000).
4. Some students report receiving less than the full amount back (i.e., under-refunds).

On this, the MD noted:

• There may be bank charges applied during reversals that can lead to refunds below the exact paid-in amount.
• NELFUND itself will not lead the investigation of such under-refunds.
• The ICPC will be the body working with school authorities to review and address cases where refunds fall short of the actual fee disbursed to the institution on the student’s behalf.

Implication (within his framing): the Fund acknowledges the occurrence of under-refunds (often linked to reversal charges) but assigns formal investigative responsibility to ICPC, not to NELFUND. Schools and their banks will need to account for variances between the amount received from NELFUND and the amount returned to affected students.

5) ICT & Bursary Responsibilities: Data Accuracy, Timeliness, and Calendar Discipline

The MD highlighted institutional duties that underpin smooth disbursements:

• NELFUND has conducted orientation/walkthrough sessions for ICT and bursary staff of institutions.
• Institutions are expected to timely upload and refresh their records, including:
  • Academic calendars (which drive the uptime and cut-off for upkeep),
  • Progression data (students moving from one level to another),
  • Graduation updates, and
  • Accurate fee schedules.
• For newly admitted students, once JAMB admissions are released, institutions should promptly upload admission lists and student data to NELFUND. This allows the Fund to prepare ahead for applications from new intakes.

Implication (as presented): the Fund’s systems synchronize with institutional data; disbursements depend on what schools upload and when. Late or inaccurate uploads can delay or distort outcomes for students.

Editorial Position (Neutral)

Segio Campus Reports does not take sides on policy; our role is to clarify. Based solely on the MD’s explanations:

• Upkeep ends with the pre-uploaded academic calendar. Strike-induced shifts do not extend upkeep beyond the original end date.
• Travel is unrestricted by the loan; repayment remains obligatory.
• Private institutions are not yet covered; expansion is a stated intention, not a current feature.
• Under-refunds after late disbursement are a recognized issue; bank charges may be a factor, and ICPC—not NELFUND—will work with schools on such cases.
• Institutional data work (ICT/bursary) is central: calendars, admissions, progression, graduation, and fee schedules must be accurate and timely for the system to function as designed.

These clarifications do not solve every challenge students face, but they set the operating boundaries as described by the Fund’s leadership. Within those boundaries, predictable outcomes depend on calendar discipline, clean data, and clear accountability when refunds are due.

Segio Campus Reports
Amplifying Campus Voices

Segio Campus Reports is the Official News and Information Division of Segio Online Services