Students Loan Upkeep Allowance in Nigeria
The Federal Government of Nigeria has introduced a students loan program, which includes an “upkeep allowance” to support students’ living expenses while in school. Here are some key details:
Eligibility: Students who applied for the students loan program and opted for the upkeep allowance will receive the funding.
Amount: The upkeep allowance is N250,000 per annum, which translates to an average of N20,833 per month.
Purpose: The allowance aims to support students’ living expenses, such as accommodation, food, transportation, and other necessities, while they focus on their studies.
Duration: The upkeep allowance will be disbursed annually for the duration of the student’s program, subject to meeting the program’s conditions and requirements.
Disbursement: The allowance will be disbursed directly to the student’s account, ensuring transparency and accountability.
This initiative aims to alleviate financial burdens on students, enabling them to concentrate on their academic pursuits and achieve their full potential.
