The Nigerian Education Loan Fund (NELFUND) is worried about the soaring tuition fees in several public universities across the country — in some cases, up by more than 500%
A leaked document from the Fund’s risk management unit paints a grim picture. From Osun to Ebonyi, schools have raised their fees for programmes like Medicine, Law, and Nursing — pushing thousands of families to the brink and threatening the very aim of the student loan scheme.
At the University of Ilesha, Nursing students who once paid ₦825,000 now pay over ₦1.2 million. In Ekiti, medical students cough out over ₦1.1 million each year. Edo State University charges more than ₦4 million for Medicine and Surgery — meaning one graduate could leave school owing more than ₦50 million.
It is the same story in Ondo, Oyo, and Ebonyi states, where institutions like UNIMED, LAUTECH, and DUFUHS have all hiked their fees between 40 and 520%.
NELFUND warns that the trend could cripple its operations and force a review of loans to the affected institutions. The agency is even considering pausing disbursements to schools with “extreme” increases or capping loan amounts until new national guidelines are set.
But the alarm has not stopped the protests. Parents and students say the hikes make mockery of President Bola Tinubu’s promise to make education accessible through loans. “This is corruption wearing academic gowns,” said a concerned parent in Osun.
What Stakeholders Are Saying
Education campaigners are calling it a slow disaster. They argue that instead of expanding opportunity, the policy is deepening inequality.
Michael Adaramoye of the Education Rights Campaign calls the student loan plan “a debt trap dressed as help.” He insists that education should be properly funded, not turned into a private business.
The National Association of Nigerian Students (NANS) is also fuming. Its spokesperson, Adeyemi Ajasa, said many universities now hide behind the loan programme to justify “greedy” increments. “Not every student is on loan. Some will drop out if this continues,” he warned.
Meanwhile, the schools say they are only adjusting to economic realities. From Ilesha to Abeokuta, their spokesmen cite inflation, fuel costs, and the struggle to keep classrooms running.
The Federal Ministry of Education admits it has limited powers to intervene since education sits on the concurrent legislative list — shared between federal and state authorities.
Still, the voices of worry grow louder. With over ₦107 billion already disbursed to more than half a million students, NELFUND’s mission is facing a new test to sustain hope in a system where the cost of learning rises faster than the dreams of the learners.
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