NELFUND Issues Fresh Clarification on Student Upkeep Payments

• The Nigerian Education Loan Fund (NELFUND) has dismissed reports alleging that the Federal Government suspended students’ upkeep allowance payments.

The Nigerian Education Loan Fund (NELFUND) has denied reports circulating online that the Federal Government has suspended students’ upkeep allowance payments under the student loan scheme.

In a statement issued by its Director of Strategic Communications, Oseyemi Oluwatuyi, the agency described the reports as false and misleading, warning members of the public against spreading unverified information.

According to NELFUND, the publications currently making the rounds on social media were fabricated to create confusion, panic and distrust among students and beneficiaries of the programme.

“The Nigerian Education Loan Fund wishes to categorically refute and condemn the false and misleading publications currently circulating across social media and online platforms alleging that the Federal Government has suspended students’ upkeep allowance payments under the student loan scheme.

“These reports, including a fabricated statement falsely attributed to NELFUND and an AI-generated newspaper front page purportedly from The Nigerian Tribune, are entirely FAKE, misleading, and designed to create panic, confusion, and distrust among beneficiaries and the general public,” the statement read.

NELFUND stressed that no directive had been issued by either the Federal Government or the fund regarding the suspension of upkeep allowance payments.

The agency also clarified that the circulating reports did not originate from any official communication channel or authorised government platform.

Addressing a viral newspaper front page being shared online, NELFUND maintained that the publication was not genuine and should be disregarded.

Reaffirming its commitment to students, the fund stated that disbursement of student loans and upkeep allowances remains ongoing in line with its mandate to support access to higher education.

The agency urged beneficiaries, stakeholders and members of the public to rely only on verified information released through its official communication channels.

NELFUND also warned against the spread of false information, noting that such actions could create unnecessary anxiety among students and parents across the country.

“The fund remains steadfast in its commitment to expanding access to higher education and supporting Nigerian students through sustainable financing initiatives,” it stated.

The agency advised the public to confirm information through its official website and verified social media platforms before sharing or acting on any reports.

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Since the launch of the programme, NELFUND has reportedly disbursed more than ₦206 billion in loans to support over 1.6 million students in tertiary institutions across Nigeria.

The student loan application portal was officially opened on May 24, 2024, following the enactment of the Student Loans Act by the Federal Government.

The initiative was introduced to assist eligible students in public tertiary institutions with tuition and upkeep support, particularly those facing financial challenges in pursuing their education.

Under the repayment structure, beneficiaries are expected to begin repayment only after completing their studies and securing employment, a framework designed to ensure sustainability while reducing financial pressure on graduates.