NELFUND Loan Update: 80% Beneficiaries Sorted

There is good news regarding the Federal Government’s student loan scheme (NELFUND) for OAU students. The Students’ Union has reported that approximately 80% of all beneficiaries have now been successfully recognized on the university's e-portal. This significant milestone means that the majority of students who applied for the loan have had their status verified and can now proceed to register their courses without the burden of immediate school fee payments.

However, the Union acknowledged that a subset of students is still facing issues. Specifically, those who registered for NELFUND using their JAMB registration numbers instead of their matriculation numbers are currently experiencing synchronization errors. The university's bursary and IT departments are currently "sorting" these specific cases to merge the records correctly. The Union has assured these students that their issues are being treated as a priority.

Furthermore, the update touched on the much-anticipated refund process. For students who had already paid their school fees out-of-pocket before their NELFUND loan was approved, the Union stated that the process for refunds will begin "very soon." The management has decided to commence these refunds once the course registration period has been fully concluded to ensure all financial data is accurate before disbursements are made.

This update has provided relief to thousands of students who rely on the loan scheme to fund their education. The Union’s transparent communication regarding the 20% still facing issues has helped manage expectations, assuring the student populace that no beneficiary will be left behind. The focus now shifts to the final reconciliation of data to ensure 100% compliance and the commencement of refunds.