OVER 20,000 STUDENTS FROM 6 PUBLIC TERTIARY INSTITUTIONS HAVE BENEFITED FROM THE FG’s STUDENT LOAN SCHEME 04-08-24
By Sadiq Aminu Over twenty-thousand students from six Public Tertiary institutions have so far benefited from the Federal Government’s student loan scheme.
The Institutions are Federal University, Dutsin-ma, Bayero University, Kano, University of Ilorin, University of Benin, University of Ibadan and University of Maiduguri.
A tweet on the official handle of the Nigerian Educational Loan Fund, NELFUND shows that over two billion Naira has been disbursed for institutional fees.
It says six more institutions will receive payment this week.
It reads in part, “So far, six of the twelve institutions have received full payment of their institutional fees, covering over 20,000 students. The total amount disbursed to these institutions stands at approximately N2,026,163,340. A further six will receive their payments in the coming week.”
According to the tweet, payment for upkeep to provide essential financial support for living expenses has also commenced.
“In addition to the institutional fees, NELFUND has also commenced the payment of upkeep to students.
This initiative will provide essential financial support for living expenses. A total of N442,400,000 has been allocated for the month of July.
The upkeep payments will benefit all 22,120 students across the twelve institutions, with more to come in the coming weeks and months, reflecting the federal government’s commitment to the overall well-being and academic success of Nigerian students in government institutions.”
It clarifies that disbursements are only made at the beginning of each institution’s academic session.
The NELFUND believes that these disbursements will significantly ease the financial burdens on students and their families, enabling them to focus on their studies and future careers.