- Home University Gists Vital Highlights NELFUND stated the very first verified LAUTECH batch has actually been processed and authorized, with disbursement now in the lasts
- . LAUTECH sent out 5,237 trainees in the very first validated batch
- NELFUND stated the batch came within the previous week
- The batch has been processed and authorized
- Dispensation is now at Audit and Financing phases
- Approved worth stands at N1,571,544,300.00
Keep reading for the full LAUTECH NELFUND dispensation update.
< img src=" https://myschoolgist.com/wp-content/uploads/2022/02/LAUTECH.jpeg" height=" 840 "width=" 1600" alt=" LAUTECH NELFUND disbursement upgrade for approved student loans"/ > The Nigerian Education Loan Fund, NELFUND, has provided a clarification on current public declarations about the alleged non-disbursement of approved trainee loans to beneficiaries of Ladoke Akintola University of Innovation, Ogbomoso.
NELFUND stated the claim that over 15,000 authorized trainee recipients are yet to receive dispensation does not match its records. The Fund specified that LAUTECH submitted 5,237 students for processing within the previous week; it explained that submission as the very first verified batch received from the school for the existing dispensation cycle.
< img src="https://myschoolgist.com/wp-content/uploads/jamb-cbt-app.svg" alt="JAMB CBT App"/ >< img src="https://myschoolgist.com/wp-content/uploads/jamb-cbt-software.svg" alt="JAMB CBT Software"/ >
< img src="https://myschoolgist.com/wp-content/uploads/neco-waec-cbt-app.svg" alt="NECO and WAEC CBT App"/ > Table of contents What NELFUND said about the LAUTECH batch
According to NELFUND, the 5,237-student batch has already been processed and approved.
The Fund added that the batch is now moving through the final stages of the disbursement workflow, consisting of Audit and Finance and Accounts. That stage, in plain terms, sits near payment; still, the Fund made it clear that approval and dispensation are not the same thing.
Why approved student loans may not reach students at once
NELFUND stated loan approval does not mean instantaneous disbursement.
The Fund explained that each application should travel through a confirmation and monetary processing system before payment can go out. It said this process helps to make sure payments are precise, traceable, and tied to school records. For trainees seeing carefully, that detail matters a good deal.
Worth of the approved LAUTECH batch
NELFUND said the approved batch alone has a worth of N1,571,544,300.00.
That figure reveals the size of the batch currently processed for LAUTECH students. The Fund used it to show that work on the scheme is currently under way; the money included appears to see.
NELFUND’s message to schools on public statements
NELFUND stated it remains committed to the timely dispensation of all duly processed and validated trainee loans.
At the same time, it advised recipient schools to ensure public statements on the plan reflect the real status of submissions and processing timelines. The Fund said early or deceptive claims can develop stress and anxiety among trainees and the public; they can also damage rely on the scheme.
What this indicates for LAUTECH student loan recipients
The bottom line from the clarification is direct. NELFUND said LAUTECH has, for the present cycle, sent one first validated batch of 5,237 students, which batch has actually already been processed and authorized.
The dispensation has actually not been referred to as complete yet. NELFUND stated the batch is still travelling through the last payment phases, specifically Audit and Finance and Accounts.
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