NELFUND resumes disbursement of students’ upkeep allowance: Over 3,600 unpaid students cleared
Education is one of the most important investments any young person can make. But in Nigeria, many students struggle daily to meet basic financial needs while pursuing their degrees. This is why the Nigerian Education Loan Fund (NELFUND) remains a vital source of support for thousands of students who rely on student loans and upkeep allowances to stay in school.
Recently, NELFUND announced that it has resumed the disbursement of long-awaited students’ upkeep allowances. This major breakthrough came after the body resolved issues related to digital wallet incompatibility and urged students to update their bank details to conventional commercial bank accounts. For many students, this move is a huge relief as it unlocks funds that have been pending for months.
In this post, you will learn about why the delay happened, how over 3,600 unpaid students have now been paid, how you too can receive your money if you’re affected, and what this means for the future of student loan disbursement in Nigeria.
When the Nigerian Education Loan Fund introduced the digital wallet system for student upkeep allowance payments, the intention was to make the loan disbursement process faster and more secure. Many students, however, started experiencing issues. Some digital-only bank accounts had compatibility problems that delayed the transfer of funds.
CLICK HERE SEE WHAT STUDENTS LIKE YOU ARE ASKING ABOUT NELFUND
For students who depend fully on upkeep loans to buy food, pay for transportation, and meet other living costs, these delays created serious hardship. Imagine relying on a student loan allowance of ₦60,000 to ₦100,000 per semester, only to find it stuck in processing.
The delay also discouraged other students from applying for student loans, fearing they might not receive their upkeep money on time. But with this recent action by NELFUND, confidence in the student loan system is expected to grow again.
NELFUND clears backlog: 3,600 students receive outstanding payments
After months of complaints and appeals, NELFUND has finally cleared the backlog of unpaid allowances for over 3,600 affected students. According to the latest statement from the Fund, students who updated their bank account details from digital wallet platforms to traditional commercial bank accounts have now received their outstanding payments.
Many of these students have confirmed that they have started seeing credit alerts in their bank accounts. For students who depend on these loans for daily survival, this development means they can focus on their studies without worrying about daily upkeep.
How to update your account and get your student loan allowance
Are you still waiting for your student upkeep allowance or loan disbursement? Here are the steps to follow to ensure you don’t miss your payment:
-
Visit the NELFUND portal: Log in with your student details and check for any notices or prompts about bank account updates.
-
Update your bank details: If you are still using a digital wallet account, change it to a regular commercial bank account like Access Bank, UBA, Zenith Bank, First Bank, or any other licensed bank in Nigeria. This helps avoid compatibility issues.
-
Submit your update: Make sure you double-check your account number, name, and BVN to avoid errors.
-
Contact your school’s IT office: If you encounter any issues, report immediately to the IT department of your school. They are now working closely with NELFUND to ensure prompt resolutions.
-
Check your account regularly: Once you complete these steps, keep an eye on your bank balance for your loan allowance credit alert.
NELFUND’s commitment to students and loan inclusivity
The Nigerian Education Loan Fund has reaffirmed its commitment to making sure that no student is left behind. The recent move to clear unpaid allowances is part of a wider strategy to ensure student loans and upkeep allowances are disbursed efficiently and transparently.
NELFUND has promised to continue improving its loan disbursement process so that every student who needs financial help to stay in school can get it without unnecessary stress.
This is especially important because, for many Nigerian students, student loans and upkeep allowances are the only means to pay for books, housing, transport, and daily meals.
Why timely student loan payments matter
Student loans and upkeep allowances are not just financial transactions. They are a lifeline. When disbursements are delayed, students are forced to borrow money from friends, take personal loans, or sometimes even drop out of school.
With living costs rising every year, having quick access to approved student loans can make the difference between staying in class or dropping out.
The good news is that with the recent clearing of the backlog, more students are now encouraged to trust the system, apply for upkeep loans, and use the funds for their welfare.
STUDY ABROAD FOR FREE
Nigeria’s future depends on educated young people. By making sure upkeep loans and other student loan programs work well, the government is investing in the nation’s development.
Students who receive upkeep allowances and educational loans are better positioned to complete their studies on time, graduate with good grades, and contribute positively to society.
If you’re a student, this is the time to check if you qualify for more loans or scholarships. Many banks in Nigeria also offer student-friendly loan options that can complement your NELFUND upkeep allowance.
Advice for students still facing issues with their loan disbursement
If you are still facing issues with your upkeep allowance or student loan disbursement, do not keep silent. Follow these practical tips:
-
Report to your school’s IT office or student affairs unit immediately.
-
Stay updated with announcements on the NELFUND portal.
-
Ensure your bank account details are accurate.
-
Keep records of any communication for reference.
-
Join student union groups that advocate for prompt loan disbursement.
Remember, you have the right to get your loan money when due.
CLICK HERE TO GET INSTANT ₦50,000 INSTANT LOAN
The recent breakthrough shows that things are changing for good. By clearing the backlog for over 3,600 students and fixing the bank compatibility problem, NELFUND has shown it is serious about helping students succeed.
As more students update their bank details and new applicants join the student loan program, it is important that everyone stays informed and proactive. Student upkeep allowances and loans are your right, and they exist to help you focus on your studies without unnecessary financial stress.
If you’re a student reading this, don’t hesitate to apply for a student loan if you need one. Keep your details up to date, follow up with your school, and always double-check your account for your allowance payment.
Education is expensive, but it is worth every Naira invested. And with the right student loan, you can achieve your dreams without being weighed down by financial struggles.
If you found this helpful, share it with your friends who might be waiting for their upkeep allowance too. For more updates on student loans, scholarships, and how to manage your finances as a student in Nigeria, stay tuned to our blog.
Looking for extra funds for school? Many licensed banks and loan platforms now offer low-interest student loans and personal loans to help you cover fees, rent, and daily living expenses. Apply now and secure your future today.
Post a Comment