UPDATE ON UNILAG NELFUND STUDENTS’ LOAN DISBURSEMENT
Arising from enquiries from students regarding the status of disbursement of students’ loan to beneficiaries, I wish to provide update as follows:
1. The University has no influence on the processing of applications other than indicate the current session the institution is running, set-up fee structure and onboard registered students onto the Students Verification System.
2. Though, students of the University of Lagos have not fully embraced the Loan Scheme with just about 5000 activating their accounts out of the 35,690 students onboarded; yet, NELFUND approval rate of application so far is 100%. Meaning all applications from the University of Lagos (4859) have been approved.
3. Current disbursement from NELFUND is for 2023-2024 session which the university has since concluded. Even at that, funds have only been disbursed to the university for 817 out of the 4859 successful applications.
4. Thus, we still have 4042 yet to be remitted even though some of the affected applicants have started receiving monthly stipend whereas the fee components have not been remitted to the university.
5. The University has given the 817 students the option to claim a refund or use the remittance to settle part of their 2024/2025 fees (may be 80-90% may be settled).
6. The implication of the slow disbursement is that whilst the university has since commenced 2024/2025 session, some students whose loans application for 2023/2024 session were approved have not had their fees remitted to the university.
7. This is compounded by the fact that the NELFUUND Board has not enabled application for 2024/2025 whereas, at the University of Lagos, we have appropriately uploaded our fee structure for the 2024/2025 session. NELFUND however advised that higher education institutions should tarry a while before onboarding students for the 2024/2025 session.
8. Meanwhile, NELFUND has provided a link for students to access in lodging complaints or raising a ticket at nelfund.esupport.ng
9. Students in need of further information may reach out to the university Ad-Hoc Standing Committee on students’ loan
a. Dr. Nwohiri (Deputy Director, Operations, ABS-CITS): +2348145465855
b.Mr. Durotoye (DSA Office): +234 809 833 0260 c.Mr. Ogundele (Admissions Office): +234 805 461 5861
d. Mrs Abike Fatimoh Umar (Academic Affairs): +234 803 582 1334
e.Mrs. Elizabeth Cole (ABS-CITS): +234 802 472 3644
Thank you and kind regards
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