Beneficiaries of the Federal Government’s student loan scheme have expressed frustration over the delay in the disbursement of their August monthly stipends.
In separate interviews with newsmen, several students voiced their disappointment, highlighting the financial strain caused by the delay. Under the scheme, students have the option to apply for an upkeep loan in addition to institutional loans, which are paid directly to universities.
In July, a total of 20,371 students from six tertiary institutions received N20,000 each as part of the upkeep stipend. The benefiting institutions include Bayero University, Kano; Federal University, Dutsin-Ma, Katsina; University of Ilorin, Kwara; University of Benin, Edo; University of Ibadan, Oyo; and University of Maiduguri, Borno.
A student from Bayero University, Kano, speaking anonymously, expressed confusion over the delayed payment. “We haven’t received the August stipend. The economy is tough, and we are pleading for an increase in the stipend, as N20,000 barely covers our needs,” the student said.
Similarly, a University of Ibadan student said, “I expected the stipend at the end of the month, but we haven’t received any communication regarding the delay.”
A student from the University of Benin added, “It’s getting too late. NELFUND needs to act quickly. While our school fees have been covered, the upkeep stipend is crucial.”
Responding to the concerns, the Director of Corporate Communications at the Nigeria Education Loan Fund (NELFUND), Oseyemi Oluwatuyi, assured that students would likely receive the N20,000 stipend within the week. “It’s been approved. They should get it this week,” he stated.
Meanwhile, the National Association of Nigerian Students (NANS) has urged the Federal Government to increase the monthly stipend from N20,000 to N40,000, citing the rising cost of living.
