UI receives N201m student loan fund; refunds available for eligible students

August 13, 2024.
By Adedoja Adesoji

The University of Ibadan (UI) has confirmed receipt of N201 million from the Nigerian Education Loan Fund (NELFUND) to cover fees for 1,370 students in the 2023/2024 academic year.

Registrar G.O. Salisu announced that students who paid fees but applied for the loan can now apply for refunds.

The Bursary Department is processing the funds to ensure eligible students receive their smart receipts.

Speaking with alumni of the institution, Dr Taliban Oloye, confirm to The YorubaTimes that over N200m has been disbursed to the school.

When asked about his knowledge of the situation on student loan payments

He said, “Yes I can confirm that some uites who applied for the loan have gotten it

“And the school also received over 200 million from nelfund for fee payment” He said.

However, the loan initiative is a flagship project of President Bola Tinubu’s administration which aims to support underprivileged Nigerians in pursuing tertiary education.

NELFUND also confirms that over 7,975 student loan applications was received within 24 hours, demonstrating overwhelming demand.