Some Nigerian graduates from public tertiary institutions have expressed frustration over the delayed disbursement of student loans, revealing that funds from the Nigeria Education Loan Fund (NELFUND) were paid to their institutions months after they had completed their studies.
In interviews with The PUNCH, the affected individuals explained that they had applied for the loan before graduation, hoping it would ease their financial burden. However, the disbursements arrived too late, long after they had independently sourced funds to settle their fees.
To compound the issue, many of them continue to receive the N20,000 monthly upkeep stipend meant for active students, despite having left school. This, they say, highlights flaws in the system’s verification and tracking processes.
