The Federal Government, through the Nigerian Education Loan Fund (NELFUND), has disbursed a total of N489,738,000 to 2,271 students of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Oyo State.
According to a statement released by NELFUND on its X handle on Friday, the loans were disbursed in three tranches, beginning with N8,670,000 distributed to 52 students on September 5, 2024.
On November 1, 2024, the education loan agency stated that 666 students benefited from a total disbursement of N83,916,000, which was paid directly into the institution’s bank account to cover the tuition fees of the successful applicants.
The latest disbursement, made on March 5, 2025, amounted to N397,152,000 in institutional loans for 1,553 undergraduate students. This brings the total number of beneficiaries to 2,271 since the student loan portal opened for applications in 2024.
Worried by a low application in December 2024, the institution admonished its undergraduates to seize the opportunity of the student loan.
Student Calls LAUTECH to refund double payment
Meanwhile, one of the loan beneficiaries, using the handle DaviesHan90, has alleged that the management of LAUTECH has failed to refund him, despite the government covering the tuition fee he had already paid.
He stated that while the institution refunded some students who applied for a refund, others, including himself, had not received theirs. He urged NELFUND to collaborate with university management to ensure a smooth transition between the school and students.
“I am a beneficiary of the second disbursement on November 1, 2024. Unfortunately, @lautechofficial has refused to refund all the money back to the students. They refunded just 300 students, and we haven’t received ours,” he revealed.
The issue of double payment arose because some students rushed to pay their tuition fees to avoid late payment penalties, only for NELFUND to later cover the same fees. Initially, NELFUND advised affected students to approach their institutions for a refund.
LAUTECH increased tuition fee for 2024/2025 academic session, making it one of the most expensive state universities in Nigeria.
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