Nigerian Education Loan Fund (NELFUND) has commenced the payment of outstanding June and July 2026 upkeep allowances to eligible student beneficiaries nationwide, with each beneficiary receiving ₦40,000 to cover the two-month backlog.
The latest disbursement clears the outstanding upkeep arrears after many beneficiaries received their ₦20,000 May allowance within the last two weeks, bringing relief to thousands of students enrolled in the Federal Government’s student loan scheme.
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The delay in the payment of the monthly upkeep allowance had generated concerns among beneficiaries, prompting the National Association of Nigerian Students (NANS) to intervene.
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NANS President, Comrade Akinteye Babatunde Afeez, had earlier urged the relevant authorities to ensure the prompt payment of the allowances, noting that President Bola Ahmed Tinubu introduced the student loan scheme to ease the financial burden on students and their parents.
