The Nigerian Education Loan Fund (NELFUND) has commenced the official disbursement of the June and July monthly upkeep allowances to verified student beneficiaries across public tertiary institutions nationwide.
The release of funds follows recent delays caused by an extensive IT server upgrade and data reconciliation process, which temporarily halted automated monthly disbursements to student accounts.
Resolution of IT Upgrades & Delayed Stipends
Student body representatives, including the National Association of Nigerian Students (NANS), confirmed that payments began reflecting in beneficiaries’ accounts after NELFUND finalized its system optimization.
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Monthly Stipend Value: Each verified student receives ₦20,000 monthly directly into their designated bank accounts to assist with daily living expenses, feeding, and transportation.
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Backlog Clearance: Disbursements are clearing in batches, covering the backlogs for May and June alongside the current July schedule.
Expanding Scheme Reach & Financial Metrics
According to the latest operational statistics released by NELFUND management, total disbursements under the Federal Government student loan scheme have crossed ₦303.9 billion, benefiting over 1.64 million students across public universities, polytechnics, and colleges of education:
┌────────────────────────────────────────────────────────────────────────┐
│ NELFUND DISBURSEMENT SNAPSHOT │
├────────────────────────────────────────────────────────────────────────┤
│ • Total Disbursed : ₦303.91 Billion (Tuition Fees + Upkeep) │
│ │
│ • Upkeep Component : ₦113.85 Billion paid directly to students │
│ │
│ • Beneficiary Count : 1.64+ Million Students Nationwide │
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│ • Partner Schools : Over 350 Public Tertiary Institutions │
└────────────────────────────────────────────────────────────────────────┘
(Sources: NELFUND Disbursement Tracker & Federal Ministry of Education Reports)
Management Advisory to Beneficiaries
NELFUND management has reiterated that the monthly upkeep loan remains interest-free and is designed strictly to support students throughout their academic sessions.
Students whose accounts are yet to reflect the credit entries are advised to check their student loan portal profiles to ensure their account details, NIN, and BVN mappings match their bank records accurately to avoid automated payment bounces.
Ayodele Quadri
Correspondent
