The University of Ibadan has urged eligible beneficiaries of the Nigerian Education Loan Fund (NELFUND) for the 2023/2024 and 2024/2025 academic sessions to apply for refunds of school fees they had paid before their loans were approved. The reminder, conveyed in an email to students on July 16, gives eligible beneficiaries two weeks to submit their applications or risk having their unclaimed loan balance returned to NELFUND.
According to the University, the refund is available to students who had fully or partially paid their school fees before receiving approval for the NELFUND loan. The email warns that beneficiaries who fail to apply within the stipulated period will forfeit the refund, as the outstanding balance will be remitted to NELFUND.
The University further stated that refund applications for the 2024/2025 academic session are to be submitted through the University of Ibadan NELFUND Loan Refund Application Portal, adding that the application timeline for beneficiaries in the 2025/2026 academic session will be announced later.
The email also clarified that, under the NELFUND policy, education loans cannot be used to pay accommodation levies.
Omoyemi Adeoye Abdulgafar
