NELFUND: Why fresh students can’t get funds before school registration, matriculation –CEO

*Akintunde Sawyerr, Managing Director of the Nigerian Education Loan Fund, explains that paying tuition for new students who have not registered or matriculated could result in large-scale financial losses for the Fund, and the Federal Government of Nigeria in general

Isola Moses | ConsumerConnect

The leadership of the Nigerian Education Loan Fund (NELFUND) has clarified that payments to any students are based on the tertiary institutions’ admission process, in which students need to do registration, and get matriculation numbers to access the loans.

ConsumerConnect reports Mr. Akintunde Sawyerr, Managing Director of NELFUND, has highlighted reasons the Fund could not pay institutional fees for new intakes into higher institutions of learning before they complete their registration processes in the country.

Sawyerr disclosed this in an interview with the News Agency of Nigeria, in Abuja, FCT.

The Managing Director of NELFUND noted that paying tuition for students who have not registered or matriculated could result in large-scale financial losses for the Fund, and the Federal Government of Nigeria at large.

Sawyerr also stated: “If we pay fees for students that have not entered, what if they change their minds, and they don’t go to the schools anymore?

“We cannot just say because somebody has been admitted to a school, and we will pay the fees before registering or matriculating.”

He further explained that doing so would amount to disbursing against intention, a practice he warned could be financially risky for the government.

Sawyerr stated: “If we carry on like that, we could end up disbursing billions of naira, only to find out that they have dropped out, got admission to a school outside the country, gone to another school, or not doing that course again.”

The Managing Director equally noted that another major challenge is the school admission process.

He said this is where students need matriculation numbers to access the NELFUND loan in the system.

Sawyerr: Fund exploring a temporary solution as a substitute for fresh students

In a move to further encourage more enrolment for the Fund, Sawyerr said NELFUND had been working closely with tertiary institutions to find a temporary solution.

According to him, this initiative possibly allowing students to use their Joint Admissions and Matriculation Board (JAMB), registration numbers as a substitute for matriculation numbers.

He said: “There are many genuine students who have applied and they need matriculation number to be able to process their fees.

“The challenge is that, they cannot get their matriculation number until they have matriculated and they cannot matriculate until they have paid.

“We are trying to work with the schools to see how those who have registered, can use their JAMB registration number, as a substitute.”

Sawyerr stated: “We have been able to receive applications on a steady basis, process them, pay students and their institutions from what have been allocated to us.”

The Chief Executive of NELFUND expressed gratitude to President Tinubu for his visionary leadership.

He added the Fund has become a lifeline for thousands of students who might, otherwise, have abandoned their education in Nigeria.

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