University of Ibadan Confirms Receiving FG Fund for Student Loan Beneficiaries

The University of Ibadan on Monday confirmed receiving the total fees of N201,114,650 for 1,370 students who successfully registered for the Nigerian Education Loan Fund (NELFUND).

It will be recalled that the federal government initiative of Student Loan Scheme has begun and students beneficiaries have also started receiving their monthly allowances which forms a part of the loan scheme.

Full Statement:

“The University of Ibadan has verified receiving N201,114,650 from the Nigerian Education Loan Fund (NELFUND) to cover the fees of 1,370 students at the University under the Student Loan Scheme by President Bola Tinubu’s administration.

“The Nigerian Education Loan Fund (NELFUND) has remitted the sum of Two Hundred and One Million, One Hundred and Fourteen Thousand, Six Hundred and Fifty Naira (N201,114,650.00) Only to the University Account for the 2023/2024 Academic Session. This amount is to cover the fees of One Thousand, Three Hundred and Seventy (1,370) students of our University who applied for the NELFUND loan.

“The Bursary Department is currently processing the fund to enable the concerned students to obtain Smart Receipt.

“Any student who is a beneficiary of the NELFUND loan and has already paid levies for the session fee is entitled to a refund. To apply for a refund, the student must write through the Dean of Students to the Deputy Vice-Chancellor, Academic, providing their account details for the refund. A photocopy of the original payment receipt must be attached to each application.

“Please note that this information is applicable ONLY to students who applied for the NELFUND loan, and whose applications were approved.

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