The Nigerian Education Loan Fund (NELFUND) has made it clear that there will be no increase in the monthly stipend for students. The allowance remains fixed at N20,000 per month. This announcement comes after rumours and expectations of a possible raise in the support given to students benefiting from the loan scheme.

NELFUND officials explained that the current amount is still what the fund can comfortably manage. They said the decision was taken after careful review of available resources and the growing number of students applying for the loan.

The goal is to reach as many eligible students as possible without putting the programme under financial pressure.

The N20,000 monthly stipend is meant to help students with living expenses such as feeding, transportation, and other basic needs while in school. Many students had hoped for an increase due to the high cost of living across the country.

However, NELFUND insists that keeping the amount at N20,000 will allow the scheme to remain sustainable in the long run.

The fund continues to process applications and disburse loans to students in public universities, polytechnics, and colleges of education. Officials urged students to focus on their studies and make good use of the support provided. They also encouraged more students to apply so they can benefit from the interest-free loans and stipends.

This decision has sparked mixed reactions. Some students expressed disappointment, saying the amount is no longer enough because of rising prices. Others understand the need to keep the programme running smoothly without sudden changes that could affect future beneficiaries.

In the end, NELFUND’s position shows a careful approach to managing student support. By maintaining the N20,000 monthly allowance, the fund hopes to continue helping thousands of Nigerian students complete their education without interruption. Students are advised to plan their expenses wisely with the current stipend.