By Opeyemi Quadri 
Students of six federal universities have shared evidence of upkeep credit alerts they received from the management of the Nigerian Education Loan Fund (NELFUND).
The first upkeep allowance of N20,000 was disbursed to 20,371 students across the University of Benin, the University of Ibadan, University of Maiduguri, Bayero University Kano, Federal University, Dutsin-Ma, and the University of Ilorin.
The student loan which is divided into two categories: school fees will be paid directly into the account of the applicant’s institution and the N20,000 monthly allowance will be credited into the bank account of the student.
One of the earliest applicants whose account has been credited, Jibrin Abdulazeez, who shared a screenshot simply said, “thank you nelfund.”
Another student from the University of Maiduguri, Noah Davrich in his tweet said, “unimaid disbursed successfully”
Musa Ibraheem, an undergraduate student of Bayero University Kano who expressed his happiness encouraged the government to continue with the gesture, saying, “Nelfund disbursement for upkeep have started @nelfund”
Another X user, Wale, said, “NELFUND don fulfil promise o 20k bagged!” while other students who are yet to be credited have been promised to look out for their own.
How long will students receive the monthly allowance?
Meanwhile, NELFUND has said that the monthly upkeep will be paid monthly for a period of 12 months. After the end of the first year, a student can choose to reapply the following year if they are eligible.
This means that students will have to renew their application in every academic session for the upkeep allowance and the institutional fees. A student may however decide to stop applying when he thinks he doesn’t need the financial support from the government.
For those whose upkeep allowance is showing verified, but yet to be paid, the management promised that they would be credited in a few days, saying “the payment is ongoing.”
Is it possible to apply for the loan without the upkeep part?
NELFUND student loan is a 2-in-1 product. The upkeep is dependent on the institution fee, you can only get upkeep when you apply for the institution fee. However, a student can apply for only the institution fee without the upkeep if they so wish.
Institutional fees
Similarly, EdubaseNG has reliably gathered that students from BUK, FUD, UNILORIN, UNIBEN, UI, and UNIMAID universities have had their school fees paid directly into their institutions’ account.
The institutional fees are paid directly into the institutional fees while students receive upkeep in their personal bank account.
have already been paid by NELFUND , have begun to receive July upkeep stipends:
The student loan agency has also promised that its management was working tirelessly “to commence the payment process for students from approximately 55 additional tertiary institutions.”
It promised that all eligible students will receive their stipends promptly so as to “support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions and ensuring the timely disbursement of stipends for day to day expenses,” in an update shared by NELFUND’s Director Finance and Accounts, Mr Ibom Uche says, promising that President Bola Tinubu had committed another N50 Billion for the management.
It was gathered that the additional N50 Billion was part of the proceeds from financial crimes.
We earlier reported that the Managing Director of NELFUND promised that there were enough funds for efficient disbursement to successful applicants.
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Editorial Staff