The Nigerian Education Loan Fund (NELFUND), has debunked reports claiming that beneficiaries of the Federal Government’s student loan scheme receive a monthly upkeep allowance of N25,000, clarifying that the approved amount remains N20,000.
The Fund said the clarification became necessary following the circulation of misleading information suggesting an increase in the allowance for students enrolled under the scheme.
In a statement issued yesterday in Abuja by the Director of Strategic Communications at NELFUND, Mrs Oseyemi Oluwatuyi, the agency urged students and the general public to disregard the inaccurate reports.
The statement partly reads: “The Nigerian Education Loan Fund has noted misinformation circulating regarding the monthly upkeep allowance for student beneficiaries.
“For clarity, the approved upkeep allowance remains N20,000 monthly and not N25,000 as being reported in some quarters.”
Oluwatuyi stressed that NELFUND remains committed to transparency in the implementation of the student loan programme, and would continue to communicate accurate information through its official platforms. The spokesperson advised students benefiting from the scheme to rely only on verified communication channels for updates about the programme.
