Thousands of beneficiaries of the Nigerian Education Loan Fund (NELFUND) across public tertiary institutions have begun receiving ₦40,000 in upkeep allowances, following the release of outstanding payments for June and July 2026.
The latest disbursement comes after many students received ₦20,000 for May 2026 within the last two weeks, effectively clearing a three-month backlog of upkeep allowances and renewing confidence in the Federal Government’s student loan programme.
Across universities, polytechnics and colleges of education nationwide, beneficiaries have confirmed receiving the payments through bank alerts, describing the development as a relief amid rising living costs.
Students said the allowance would support essential needs such as transportation, feeding, study materials and other academic expenses, helping them focus better on their studies.
Many beneficiaries praised President Bola Tinubu for introducing the student loan initiative, saying the programme has provided crucial support for thousands of Nigerian students pursuing higher education despite economic challenges.
They also commended the Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, for facilitating the release of the outstanding payments and demonstrating commitment to improving students’ welfare.
Some students noted that the simultaneous payment of the June and July allowances showed the Fund’s efforts to address previous delays and strengthen trust in the scheme.
According to beneficiaries, the programme has reduced the financial pressure on parents and guardians while enabling students to remain focused on their academic goals without constant concerns over daily expenses.
The latest disbursement is expected to further boost confidence in NELFUND, which provides financial support through institutional fee payments and monthly upkeep allowances for eligible students.
The student loan scheme has continued to attract attention as one of the Federal Government’s major interventions aimed at expanding access to tertiary education and reducing financial barriers for Nigerian students.
With beneficiaries now receiving the outstanding allowances, many students have expressed optimism that future payments will be made more promptly, allowing them to concentrate fully on their studies and contribute meaningfully to national development.
EduTimes Africa, a product of Education Times Africa, is a magazine publication that aims to lend its support to close the yawning gap in Africa's educational development.