Thousands of beneficiaries of the Nigerian Education Loan Fund (NELFUND) across public tertiary institutions have begun receiving N40,000 in upkeep allowances, marking the clearance of outstanding arrears for June and July 2026 after many students received N20,000 for May 2026 within the last two weeks.
The latest disbursement has sparked excitement on campuses nationwide, with student beneficiaries confirming receipt of the funds through bank alerts and expressing relief after months of waiting. The payment effectively clears the backlog of three months’ upkeep allowances, bringing renewed confidence in the Federal Government’s student loan initiative.
Students from various Universities, Polytechnics and Colleges of Education described the development as a timely intervention, saying the upkeep allowance would help them meet pressing academic and personal needs, including transportation, feeding, study materials and other essential expenses.
Many beneficiaries praised President Bola Tinubu for initiating the student loan programme, which they said has restored hope to thousands of Nigerian students pursuing higher education despite prevailing economic challenges.
The students also commended the Managing Director/Chief Executive Officer of NELFUND, Mr. Akintunde Sawyerr, for ensuring the outstanding payments were released, describing his leadership as responsive and committed to the welfare of Nigerian students.
Several beneficiaries noted that the simultaneous payment of the June and July allowances demonstrates NELFUND’s resolve to address previous delays and strengthen confidence in the scheme.
According to the students, the programme continues to reduce the financial burden on parents and guardians while enabling beneficiaries to remain focused on their studies without the constant worry of meeting daily living expenses.
Across campuses, students welcomed the payments with messages of appreciation, stating that the initiative has become a lifeline for many undergraduates struggling with rising costs of living.
Some beneficiaries described the receipt of the ₦40,000 allowance as evidence that the Federal Government remains committed to sustaining the programme and improving access to quality tertiary education for deserving Nigerians.
The renewed disbursement is expected to further boost confidence in the NELFUND scheme, which has continued to support students through institutional fee payments and monthly upkeep allowances.
Indeed, the clearance of the arrears will ease concerns previously raised by student groups over delays in upkeep payments and reinforce the government’s commitment to making higher education more accessible and affordable.
As beneficiaries continue to receive payment notifications across the country, many have expressed optimism that future upkeep allowances will now be paid promptly, allowing students to concentrate fully on their academic pursuits while contributing meaningfully to national development