The Nigerian Education Loan Fund (NELFUND) has commenced the disbursement of the delayed August stipend, bringing relief to student beneficiaries across the country. The payment delay, initially attributed to security checks by NELFUND to safeguard public funds and ensure proper allocation, had caused concern among students relying on the support for their daily expenses.
On Sunday, 15th September 2024, several students confirmed receipt of their stipend, marking the start of the much-awaited disbursement. The monthly stipend, designed to ease the financial burden on students, is separate from the loan provided for school fees and helps cover personal expenses.
Institutions benefitting from the recent disbursement include Bayero University, Kano; Federal University, Dutsin-Ma; University of Ilorin; University of Benin; University of Ibadan; and University of Maiduguri.
The news was met with enthusiasm by students, despite recent calls for the stipend to be increased from the current ₦20,000 to ₦40,000 in response to rising inflation. Nonetheless, the disbursement offers immediate relief to many, allowing them to focus on their studies.
The initiative continues to play a critical role in supporting students’ academic journeys, ensuring that they have the necessary financial backing to succeed.
