In order to guarantee that only enrolled students continue to receive financial aid, the Nigerian Education Loan Fund (NELFUND) has announced plans to remove students who have dropped out from its list of beneficiaries.
NELFUND’s Executive Director of Operations, Mustapha Iyal, told reporters during a press conference in Abuja that the organisation is working with schools to update its student database in order to find those who are no longer enrolled. He underlined that certain recipients who were given stipends during the 2023–2024 school year will not be qualified for the 2024–2025 cycle.
Over N22 billion has been distributed by NELFUND to 215,514 students in 240 institutions, according to Managing Director Akintunde Sawyerr. An additional N12.8 billion has been given to 169,114 students as maintenance support, with each student receiving N20,000 per month.
While applications for the 2024/2025 cycle will open on February 22, 2025, the 2023/2024 student loan application portal will close on February 21, 2025. Sawyerr gave applicants the assurance that all applications submitted prior to the deadline would be handled equitably and quickly.
Additionally, he discussed application processing delays and attributed them to institutions confirming students’ information, which has an impact on when maintenance stipends and institutional fee payments are made. Only after institutional fees are verified, usually within a week or two, are upkeep payments made, he said.
NELFUND reaffirmed its commitment to transparency, efficiency, and ensuring that no deserving student is denied education due to financial constraints.
CREDIT: ALLSCHOOL, Allschoolabs
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