The University of Calabar (UniCal) has announced a series of concessions and adjustments regarding the disbursement and utilization of the Nigerian Education Loan Fund (NELFUND) for its students. These measures aim to address the challenges faced by students who were unable to access the loan during the 2023/2024 academic session and to streamline the process for future beneficiaries. The university’s commitment to ensuring equitable access to education underscores these decisions, recognizing the financial constraints that many students face in pursuing their academic goals. The announcement, made by Professor Tony Eyang, the Deputy Vice-Chancellor for Academics, outlines a comprehensive plan to ensure that eligible students benefit from the NELFUND program.
One of the key provisions of the new policy is the extension of eligibility for the 2023/2024 loan to continuing students. Students who qualified for the loan in the previous academic year but did not receive the funds will be granted access to register for the 2024/2025 academic session. This means that the funds originally intended for the 2023/2024 session will now be applied towards their tuition fees for the 2024/2025 academic year. This concession provides relief to students who may have faced financial difficulties due to the delayed disbursement and ensures that they can continue their education without interruption. The university recognizes that access to timely financial aid is crucial for student success, and this measure aims to mitigate the impact of the previous delay.
Furthermore, the university has outlined a clear refund policy for both graduating students and those who paid their tuition fees in full. Students who graduated in the 2023/2024 academic year and were beneficiaries of the NELFUND will be refunded the fees they paid after completing their bursary clearance. This ensures that they are not unduly burdened by having paid tuition while simultaneously being entitled to loan funds. Similarly, students who paid their full fees for both the 2023/2024 and 2024/2025 academic years will receive a refund for the 2023/2024 session upon the disbursement of the 2024/2025 loan. This approach recognizes the financial commitment made by these students and ensures that they receive the financial assistance they are entitled to.
For students who made partial payments towards their 2023/2024 tuition, the university requires them to settle the outstanding balance during the 2024/2025 academic year. This ensures consistency in fee payment and allows the university to maintain its financial stability. The university also addresses the scenario for graduating students in the 2024/2025 academic year who are NELFUND beneficiaries. These students will receive a refund after their bursary clearance, similar to the process for the previous graduating class. This policy ensures fairness and equity in the distribution of funds, ensuring that all eligible students receive the appropriate financial support.
To facilitate the application process and ensure transparency, the University of Calabar’s Information and Communication Technology (ICT) Centre has been designated as the central hub for NELFUND registration. This centralized system streamlines the application process, making it easier for students to access information and submit their applications. Furthermore, the university is configuring the student fee portal to reflect NELFUND disbursements, providing students with real-time updates on their loan status. This enhanced transparency empowers students to track their financial aid and plan their finances accordingly. Professor Eyang encouraged all eligible students to take advantage of this opportunity and register for the NELFUND program.
The Nigerian Education Loan Fund (NELFUND) is a crucial initiative of the Federal Government aimed at broadening access to higher education across the country. By providing financial assistance to students, NELFUND reduces the financial barriers that often prevent students from pursuing tertiary education. The program is instrumental in fostering human capital development and empowering individuals to contribute meaningfully to the nation’s socio-economic growth. The University of Calabar’s efforts to streamline the NELFUND process and ensure equitable access for its students align with the broader national objective of promoting education and creating opportunities for all. The university’s commitment to transparency and student support underscores its dedication to fostering an environment where students can thrive academically and reach their full potential.
