Parents will soon verify school fees payments to stop double dipping in student loans, according to NELFUND.
The Nigerian Education Loan Fund has announced plans to introduce a verification system that will allow parents to check whether their children's school fees have been paid through the government scheme.
Managing Director Akintunde Sawyerr disclosed this initiative during a press briefing on Wednesday, aiming to improve accountability and eliminate cases of students receiving government funds while still relying on their parents for tuition.
Under the new setup, parents can confirm the payment status of institutional fees, according to information published by The Sun Nigeria.
How Student Loan Verification Works for Parents
The new verification arrangement will let parents confirm if NELFUND has paid tuition fees, providing reassurance to families who continue shouldering educational expenses despite financial assistance programs.
While parents can verify that transactions took place, they may not have direct access to the specific financial amounts involved, ensuring a balanced approach to administrative transparency.
Addressing Double Dipping Practices
Managing Director Akintunde Sawyerr stated that the fund would no longer tolerate students taking financial assistance while simultaneously stressing their parents for the exact same educational expenses.
To combat this, the organization plans to organize re-education workshops across all six geopolitical zones in Nigeria to clarify payment procedures and eliminate ongoing confusion.
Understanding NELFUND Payment Procedures
Executive Director Mustapha Iyal explained that institutional fees are processed using unique application identification numbers and tokenised wallet numbers instead of conventional bank accounts.
Tuition payments and upkeep allowances are handled separately, with upkeep funds transferred directly to personal bank accounts through external channels like Paystack and NIBSS.
Scale of Operations and Pilot Phase Progress
The pilot phase currently covers approximately 400,000 beneficiaries, with thousands of new student records added recently as the system processes transactions for nearly 5,000 students daily.
Each beneficiary application ID links to a dedicated tokenised wallet, separating institutional disbursements from the external payment platforms used for student upkeep transfers.
Frequently Asked Questions
What is the NELFUND parent verification system?
The Nigerian Education Loan Fund system allows parents to verify whether their children's school fees have been paid through the government student loan scheme, improving accountability.
How does NELFUND process tuition payments?
NELFUND processes institutional fees using students application identification numbers and tokenised wallet numbers rather than traditional bank account numbers.
How are upkeep allowances disbursed to students?
Upkeep allowances are handled separately from tuition and transferred to personal bank accounts using external payment platforms like Paystack and NIBSS.
Why is NELFUND organizing re-education workshops?
Managing Director Akintunde Sawyerr announced workshops across the six geopolitical zones to explain payment procedures and resolve confusion among students, parents, and tertiary institutions.
