Nigerian Education Loan Fund (NELFUND)
The Nigerian Education Loan Fund (NELFUND) has commenced the payment of June and July upkeep allowances to eligible student beneficiaries across the country, bringing relief to thousands of students enrolled in the Federal Government’s student loan scheme.
The disbursement marks the clearance of outstanding arrears for June and July 2026 after many beneficiaries received their N20,000 May upkeep allowance within the last two weeks.
With the latest payment, students are receiving ₦40,000 covering the two outstanding months.
The development has sparked excitement across campuses countrywide, with beneficiaries confirming receipt of the funds on social media through bank alerts and expressing relief after months of waiting.
Students from universities, polytechnics and colleges of education described the payment as a timely intervention, noting that the upkeep allowance would go a long way in helping them meet pressing academic and personal needs, including transportation, feeding, study materials and other essential expenses.
Many beneficiaries praised President Bola Tinubu for introducing the student loan programme, which they said has restored hope to thousands of Nigerian students pursuing higher education despite prevailing economic challenges. They noted that the initiative has significantly eased the financial burden on parents and guardians while enabling students to remain focused on their studies.
The students also commended the Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, for ensuring the outstanding payments were released, describing his leadership as responsive and committed to the welfare of Nigerian students.
According to them, the simultaneous payment of the June and July allowances demonstrates NELFUND’s resolve to address previous delays and improve the efficiency of the disbursement process.
There have, however, been complaints from some beneficiaries over the prolonged delay in the disbursement of the upkeep allowances, with many taking to social media to express frustration over the uncertainty surrounding the payments. Some students said the delays disrupted their plans and left them struggling to meet basic needs such as feeding, transportation and the purchase of academic materials.
Others appealed to the FUND to establish a more predictable payment schedule and improve communication with beneficiaries whenever there are delays. They expressed hope that the clearance of the outstanding arrears signals a return to timely and regular disbursements in the months ahead.
An X user, Heis MusteeB (@haruna33704833) said, “Please upkeep shoud be the main focus now. Imagine students on regular programme that cannot work while studying because lectures alone takes 2/3 of hours on each day……finding it difficult to study because of financial constraints. Things are hard on students pls!!”.
Reacting, the National Association of Nigerian Students (NANS) assured students that all outstanding backlogs would be settled as disbursements continue in batches.
In a statement, the National President of NANS, Akinteye Afeez, said the student body had received assurances that no eligible beneficiary would be left behind in the payment process.
“The payment of June and July NELFUND upkeep allowances has officially commenced. As I assured you, every outstanding backlog will be paid. We remain committed to ensuring that no eligible Nigerian student is left behind,” he said.
Afeez appealed to beneficiaries who are yet to receive their allowances to remain calm and patient, explaining that the payments are being processed in batches.
He reaffirmed NANS’ commitment to protecting the welfare and interests of Nigerian students, pledging to continue engaging relevant stakeholders to ensure the seamless implementation of the student loan scheme.
