NELFUND Denies Reports of Student Upkeep Allowance Increase to N25,000
The Nigerian Education Loan Fund (NELFUND) has issued a firm denial regarding widespread claims that the monthly upkeep allowance for student beneficiaries under its loan scheme has been raised to N25,000. In an official statement released on Monday, the Fund described such information as misleading and inaccurate, urging students and the general public to disregard these contrary reports circulating in various quarters.
Official Clarification on Approved Stipend
According to the statement signed by the Fund's Director of Strategic Communications, Oseyemi Oluwatuyi, NELFUND emphasized that no official decision has been taken to review the allowance upward. This clarification comes in direct response to numerous reports suggesting an increment had been implemented. The approved upkeep allowance remains firmly at N20,000 monthly, and not N25,000 as being falsely reported in some media outlets and social platforms.
The Fund specifically warned against the spread of unverified information, highlighting how such misinformation could create unnecessary confusion among student beneficiaries across the nation. NELFUND stressed the importance of relying solely on its official communication channels for accurate updates regarding the student loan scheme and any related policy changes.
Commitment to Transparency and Student Support
In its comprehensive statement, NELFUND reaffirmed its commitment to transparency, operational efficiency, and student-focused service delivery. The agency expressed appreciation for the cooperation and understanding demonstrated by beneficiaries throughout the country, while simultaneously addressing the current misinformation challenge.
For students seeking further clarification or verification of information, NELFUND encouraged direct contact through its official email channels and verified social media platforms. This proactive approach aims to ensure that all beneficiaries receive accurate, timely information directly from authorized sources, thereby preventing the spread of rumors that could disrupt the educational support system.
The Nigerian Education Loan Fund continues to implement its mandate of providing financial assistance to students through carefully structured loan programs, with the N20,000 monthly upkeep allowance representing a consistent component of this support framework. All stakeholders are advised to monitor official NELFUND announcements for any future policy adjustments or program enhancements.
