NELFUND Rebuffs Claims Of Student Allowance Hike Confirms It Remains ₦20,000

NELFUND Rebuffs Claims of Student Allowance Hike Confirms It Remains ₦20,000 The Nigerian Education Loan Fund (NELFUND) has officially denied reports circulating online that it had increased the monthly student upkeep allowance under its student loan scheme from ₦20,000 to ₦25,000, calling such claims false and misleading. In a statement issued on Monday, the Fund’s Director of Strategic Communications, Oseyemi Oluwatuyi, clarified that there has been no official decision to raise the allowance, which remains unchanged at ₦20,000 per month for beneficiaries of the federal student loan programme. “The approved upkeep allowance remains ₦20,000 monthly, and not ₦25,000 as being reported,” the statement stressed, urging students and the wider public to disregard any misinformation circulating on social media and other informal channels. The Fund advised stakeholders to rely only on official NELFUND communication channels for verified updates regarding the student loan scheme, which was established to ease the financial burden of higher education for eligible students nationwide. In recent months, NELFUND has been at the centre of public discussions on student welfare, including complaints about inconsistencies in stipend payments and other operational issues but the agency’s reaffirmation of the ₦20,000 allowance aims to quell speculation and false expectations. The Federal Government‑backed programme continues to disburse funds covering tuition and upkeep allowances to students across tertiary institutions in Nigeria.