WHY NELFUND STILL PAYS STIPENDS TO DROPOUTS — OFFICIAL
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The Nigerian Education Loan Fund explained on Monday why some students who have dropped out of institutions continue to receive the monthly stipends provided by the Fund.
In response to reporters’ inquiries during a press briefing in Abuja, the Executive Director of Operations at NELFUND, Mustapha Iyal, said the Fund was working on updating its system to identify students who have graduated.
Iyal said, “What we’re aiming to do right now is update our system. Part of this update involves improving the student database.
“Without the update, we cannot identify those who have left school. So, at present, we are working directly with institutions. We have gathered a lot of data from these institutions, and many applicants are not receiving their next upkeep payment. Why? Because their data shows they are inactive. ‘Inactive’ means they are no longer in school.
“To verify if a student has moved to the next session or obtained a result that allows them to continue, we need to check their enrolment status for the next academic year.
“So, we are currently updating our records for the 2024–2025 session. Based on our database, a significant number of students may not receive their next upkeep payment. Why? Because they only attended the 2023–2024 session but were unable to move into the next academic year.”
He added that consultations with institutions are ongoing regarding pending applications.
“We have a process where, once we receive an application, we first verify in-house that the documents uploaded by the student are genuine. If verified, we then send the application to the institution, asking them to confirm whether the student is still enrolled and whether the fee stated in our database is still valid. If the institution confirms the details and signs off, we proceed with the payment.”
NELFUND is President Bola Tinubu’s flagship initiative in the education sector, aimed at providing loans to indigent students to improve access to education.
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