NELFUND adds price resolution button to curb tuition hikes

The Nigerian Education Loan FUND has introduced a Price Resolution Button on its redesigned portal. The tool allows students to view tuition fees before applying for a loan and to flag any fee increase they consider arbitrary.

Managing director Akintunde Sawyerr explained the feature in a Thursday interview in Lagos. He said institutions that set fees above a set level risk losing funding and urged all tertiary schools to upload complete student data, name, date of birth, course and matriculation number, to the NELFUND database. Incomplete data often causes glitches that can affect a school’s funding.

NELFUND noted that loan recovery remains important but is not its only source of sustainability. The agency also draws on investments, donations and other funds, and has begun recovering some repayments. Sawyerr said the broader aim is to educate Nigerians, especially indigent students, to expand the tax base and support national development, reaffirming the government’s commitment to fund education through such initiatives.