Some college college students who lately benefitted from the N20,000 stipend paid by the Nigerian Education Loan Fund have begun celebrating the receipt of the cash.
While some took to social media to share their shock, others narrated how they spent the cash on foodstuffs. Just a few stated it took the burden of care off their dad and mom.
Financial constraint is a serious problem dealing with many college students of public tertiary establishments in Nigeria.
The lack of funds has stored many younger folks out of college, as their dad and mom or guardians can’t afford to sponsor their tertiary schooling.
A complete of 20,371 college students from six tertiary establishments had been stated to have been paid a sum of N20,000 every for his or her July stipends.
The establishments stated to have benefitted from the disbursement are Bayero University, Kano State; Federal University, Dutsin-Ma, Katsina State; University of Ilorin, Kwara State; University of Benin, Edo State; University of Ibadan, Oyo State; and University of Maiduguri, Borno State.
NELFUND began the disbursement of the stipends to the scholars, whose college charges had already been paid by the company, on August 5, 2024.
A 300-level pupil of the Department of Agronomy, University of Ibadan, Emmanuel John, informed Sunday PUNCH he didn’t imagine the cash can be paid when he utilized for it.
He stated, “I utilized for N240,000, to be disbursed as N20,00 month-to-month. I plan to make use of it to get foodstuffs month-to-month, and clear different payments.
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“I used to be excited to get the cash, as a result of I initially thought it was going to be one of many a number of failed guarantees from the federal government.
“This will definitely ease the burden on my parents, as I will disturb them less.”
An Accounting pupil of the University of Maiduguri, Muhammed Buba, stated the cash got here to him as a shock, including that he went to the market to get foodstuffs instantly after receiving the cash.
He stated, “I’m not financially buoyant, so I get assist from my associates and another individuals who help my schooling.
“I acquired the cash after getting back from college. I had earlier obtained some cash from my dad and mom, however the excessive price of residing and inflation didn’t permit me to get sufficient foodstuffs with the cash. What I obtained couldn’t final me for a month.
“I was thinking of how I would manage the little foodstuffs I had for a month when I received the N20,000 stipend from NELFUND. I was excited and rushed to market to buy more foodstuffs. I spent N15,000 on foodstuff, and saved N5000 to get some other things I might need.”
A pupil of the Faculty of Education, University of Ilorin, Malik Ibrahim, stated upon getting the stipend, he celebrated along with his associates.
He stated, “I assumed it was a rip-off alert once I acquired the message. I had simply N100 in my account. When I checked my financial institution app and noticed a stability of N20,100, and noticed that the cost was from NELFUND, I used to be so completely happy, and couldn’t comprise my pleasure.
“I made a screenshot of the alert and posted it on my school’s WhatsApp group. Some different folks acknowledged the cost as effectively. We went to highschool the next day to have fun spending N1000 every. We declared that it was NELFUND we had been spending.
“The money will take care of my transportation fare for this month. I appreciate Mr President for this.”
An excited pupil of the University of Maiduguri, Mudassir Muhammad, wrote on his X deal with, “I don’t know why Nigerians still think that NELFUND is lying about the disbursement to certain institutions. I am from UNIMAID. I applied and received the money two days ago.”
Yet X person, @Absanchh, wrote, “I received mine too. No doubt, it meant a lot to me and I’m grateful to NELFUND and the president.”
Acknowledging the cost of the N20,000, one other pupil of the University of Ibadan, Taiwo Egbeyemi, wrote “I have received my N20,000 upkeep.”
In the same vein, a pupil of the Federal University of Dutsin-Ma, Tukur Muhammad, stated, “I received my upkeep loan from NELFUND. I am really happy because the money will help me to carry out my academic activities.”
Our correspondent, nonetheless, learnt that there have been complaints from some college students that they didn’t get any cost.
Speaking with Sunday PUNCH, the Fund’s Director of Corporate Communications, Oseyemi Oluwatuyi, stated a few of the college students had not been verified and authorized.
Oluwatuyi stated, “Not all college students from the six establishments had been paid as a result of a few of them haven’t but been verified and authorized. Some registered sooner than others. The college students who haven’t been paid will obtain their funds as quickly as they’re verified and authorized.
“The six institutions were selected based on their academic calendars. They are all in their first semesters. More disbursements will be made to other institutions in the coming days. The N20,00 is also part of the loan; it is not a grant.”
Reacting to the event, the Academic Staff Union of Universities questioned why NELFUND couldn’t disburse the mortgage to the colleges concurrently.
The union re-emphasised its opposition to it, saying it didn’t help the mortgage.
Speaking with Sunday PUNCH, the National President of ASUU, Emmanuel Osodeke, stated, “I’ve not seen any pupil who acquired the cash in my college. In Nigeria immediately, there are virtually 100 public universities, and they’re giving what number of of them? Let us see what occurs in any case the colleges have been paid.
“Why couldn’t NELFUND pay all the colleges when all of them utilized on the identical time? We don’t know what is occurring.
“As a union, we’ve got stated we’re not in help of the mortgage. We aren’t even speaking concerning the fast impact; we’re speaking concerning the long-term impact.
“As a union of intellectuals, we look at the long-term, not the immediate. A student gets a loan and by the time they graduate, they have a debt of about N1m hanging on their necks, when they are not even sure of when they will get jobs. That’s what we are talking about.”
The Senate President of the National Association of Nigerian Students, Akinteye Babatunde, stated the mortgage would cut back the monetary strain on the beneficiaries and their dad and mom.
“We hope that the students will pay the loan when it’s time to pay back so that others coming behind can also benefit from it. It will surely ease the financial burden on the students and their parents,” he stated.