The Federal Government has urged tertiary institutions to permit students who have applied for the student loan programme to sit for their examinations without any restrictions.

The government also set up a high-level committee to streamline and standardise fee payment processes across the country?s tertiary institutions.

It said the committee?s work is aimed at enhancing financial operations between the universities and the Nigerian Education Loan Fund (NELFUND).

The panel is expected to standardise the nomenclature of the charges, the timeline when NELFUND would disburse institutional loans, and when universities and other institutions would announce disbursements.

Education Minister Tunji Alausa addressed reporters yesterday in Abuja after a meeting with NELFUND, vice chancellors and heads of tertiary institutions accused of misappropriating student loan disbursements.

The minister said the panel has three weeks to submit its report.

He debunked the allegations by the Independent Corrupt Practices and other related offences Commission (ICPC) that NELFUND could not account for N71.2 billion.

He said: ?The current processes are working, but we are working to better the system we have now.

?The aim is to serve both NELFUND and our citizens more efficiently and align with the broader agenda of the current administration.?

Alausa admitted that the removal of service charge by beneficiary institutions was responsible for allegations of loan deductions by students.

He said: ?The differences that students are saying from when NELFUND pays the universities and the refund they give back to the student is the service charge. The university takes out its service charge, and that?s what is accountable for those differences.?

?We?re working to better streamline those processes and come up with more standardised guidelines to address those issues.?

The minister described allegations of loan misappropriation by tertiary institutions as ?communication problems?.

Alausa announced that one of the major decisions reached during the meeting was the formation of a committee comprising representatives of NELFUND, the Ministry of Education, the National Universities Commission (NUC), and key university officials.

He explained that while the actual fee amounts might differ among institutions, all universities would be required to adopt uniform terminology to ensure transparency.

Alausa added: ?The committee will determine and publish standard timelines for when NELFUND will disburse funds and when universities must notify students.?

Responding to questions on the discrepancies between student fees and what NELFUND pays, the minister said the committee would create a clear framework for fee components to eliminate confusion and ensure accurate disbursements.

?Universities will disclose service charges upfront to avoid misunderstandings in refunded amounts,? he added. (The Nation)