The students of Obafemi Awolowo University have been receiving the upkeep loan provided by NELFUND in their respective bank accounts. This is in alignment with the Student Loan Scheme created by the President Tinubu’s Administration of the Federal Government of Nigeria.
Recall that students who registered and applied for Student Loan were provided with a stipend which amount to ₦20,000, together with the institutional fee.
The disbursement of this stipend was confirmed by OAU students who received the first of twelve monthly stipend from NELFUND on Wednesday, September 25th.
The beneficiaries expressed their excitement that some months after they had applied for the loan, they received ₦20,000 in their personal accounts.
A student, Emmanuel, who confirmed to ACJOAU said the disbursement process of the Student loan upkeep began with pending on the NELFUND portal, until it became verified and then, approved.
Students were therefore rest assured that the stipend would be disbursed into their respective bank accounts, if they applied for the Student loan.
It is important to note that the tuition fees part of the Students’ Loan will be paid directly to the University, while the upkeep are paid into students’ personal accounts.
