The Nigerian Education Loan Fund (NELFUND) has announced plans to clear the growing backlog of upkeep allowance payments owed to beneficiaries under the federal student loan scheme. This development comes as a major relief to students across Nigeria who have experienced delays in receiving their monthly upkeep support, a key component of the education financing initiative introduced by the Federal Government.
Nelfund Set To Clear Backlog Of Upkeep Allowance
According to sources familiar with the matter, NELFUND is currently working on resolving technical and administrative issues that contributed to the payment delays. The fund acknowledged that a surge in verified applicants and bank reconciliation challenges slowed down the disbursement process, but assured beneficiaries that corrective measures have now been put in place to ensure faster and more consistent payments going forward.
Students across Nigeria await the clearing of NELFUND upkeep allowance backlog.
Officials explained that the clearance exercise will be carried out in phases, prioritizing students whose payments have been pending the longest. Once the backlog is cleared, NELFUND plans to move to a more streamlined payment schedule that aligns with academic calendars, helping students better plan for feeding, accommodation, and other essential expenses while in school.
The upkeep allowance is designed to support students from low-income backgrounds, ensuring that financial constraints do not disrupt their academic progress. Many beneficiaries have taken to social media in recent weeks to express concerns over the delays, noting that the allowance plays a critical role in meeting daily living costs amid rising inflation.
NELFUND Tells Institutions To Update Student Records
NELFUND has advised students to regularly check their application dashboards and ensure that their bank details are accurate to avoid further delays. The fund also urged institutions to promptly update student records, as discrepancies in enrollment data can affect payment processing.
As the backlog clearance begins, stakeholders believe this move will restore confidence in the student loan scheme and strengthen the government’s commitment to expanding access to higher education. Students and guardians are optimistic that timely upkeep allowance payments will soon become the norm rather than the exception.
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