₦airaland Forum

Some university students who recently benefitted from the N20,000 stipend paid by the Nigerian Education Loan Fund have begun celebrating the receipt of the money.

While some took to social media to share their surprise, others narrated how they spent the money on foodstuffs. A few said it took the burden of care off their parents.

Financial constraint is a major challenge facing many students of public tertiary institutions in Nigeria.

The lack of funds has kept many young people out of school, as their parents or guardians cannot afford to sponsor their tertiary education.

abc115:
Some university students who recently benefitted from the N20,000 stipend paid by the Nigerian Education Loan Fund have begun celebrating the receipt of the money.
While some took to social media to share their surprise, others narrated how they spent the money on foodstuffs. A few said it took the burden of care off their parents.
Financial constraint is a major challenge facing many students of public tertiary institutions in Nigeria.
The lack of funds has kept many young people out of school, as their parents or guardians cannot afford to sponsor their tertiary education.
https://punchng.com/nelfund-varsity-students-celebrate-stock-foodstuffs-with-n20000-loan/

Kobojunkieee:
Loan be Stipend? Wetin be this?

LadyExcellency:
What is N20,000? If a plate of food costs 1000 for a meal, what will N20,000 cover in Abuja?

abc115:
Some university students who recently benefitted from the N20,000 stipend paid by the Nigerian Education Loan Fund have begun celebrating the receipt of the money.

While some took to social media to share their surprise, others narrated how they spent the money on foodstuffs. A few said it took the burden of care off their parents.

Financial constraint is a major challenge facing many students of public tertiary institutions in Nigeria.

The lack of funds has kept many young people out of school, as their parents or guardians cannot afford to sponsor their tertiary education.

https://punchng.com/nelfund-varsity-students-celebrate-stock-foodstuffs-with-n20000-loan/

RealityKings:
Fun Fact... Things 20,000 can buy

2 bowls or rice (2600 x2) 5200
1 bowl of beans _________4300
2 bowls of Garri (1500x2) 3000
Palmoil ____1200
5 Eggs ___1000
2 Spaghetti _____2000
Salt 100
Seasonings____400
Milk (no even reason am)
Data subscription ____2000
Airtime 1000

Total is 20,200

All this is excluding Transportation to school

It won't even last you 2 weeks before the 20 finish..

RealityKings:
Fun Fact... Things 20,000 can buy

2 bowls or rice (2600 x2) 5200
1 bowl of beans _________4300
2 bowls of Garri (1500x2) 3000
Palmoil ____1200
5 Eggs ___1000
2 Spaghetti _____2000
Salt 100
Seasonings____400
Milk (no even reason am)
Data subscription ____2000
Airtime 1000

Total is 20,200

All this is excluding Transportation to school

It won't even last you 2 weeks before the 20 finish..

LadyExcellency:
What is N20,000? If a plate of food costs 1000 for a meal, what will N20,000 cover in Abuja?

JagabanB:
What do you suggest?
The govt should give 200k every month to the students abi?
So that when they can't pay tomorrow, same u will come out with another round of analysis.

RealityKings:
Come is it a government loan or what is it?
Let's start from there

JagabanB:
It is a loan, that pays the tuition fee of everyone who apply and is successful with the process, the 20k is monthly stipends.
Once you are successful, your tuition fees will be paid and you get 20k monthly, which you will pay back by giving 10% of your income 2 years after your NYSC.


Modified according to your modified reply:
The loan is for ease of academics not for investments.
U don't take academic loan for investments in any country.

RealityKings:
Come is it a government loan or what is it?
Let's start from there..
If it's a loan, the purpose should be to invest and generate more..

But in this case what can you invest 20k in to generate more funds and not drive you deep down into poverty like a carpenter hammering a 4 inch nail

MhisterJay:
Will they be receiving it monthly?

RealityKings:
Fun Fact... Things 20,000 can buy

2 bowls or rice (2600 x2) 5200
1 bowl of beans _________4300
2 bowls of Garri (1500x2) 3000
Palmoil ____1200
5 Eggs ___1000
2 Spaghetti _____2000
Salt 100
Seasonings____400
Milk (no even reason am)
Data subscription ____2000
Airtime 1000

Total is 20,200

All this is excluding Transportation to school

It won't even last you 2 weeks before the 20 finish..

RealityKings:
Fun Fact... Things 20,000 can buy

2 bowls or rice (2600 x2) 5200
1 bowl of beans _________4300
2 bowls of Garri (1500x2) 3000
Palmoil ____1200
5 Eggs ___1000
2 Spaghetti _____2000
Salt 100
Seasonings____400
Milk (no even reason am)
Data subscription ____2000
Airtime 1000

Total is 20,200

All this is excluding Transportation to school

It won't even last you 2 weeks before the 20 finish..

michlins:
add the cost of cooking

RealityKings:
Fun Fact... Things 20,000 can buy

2 bowls or rice (2600 x2) 5200
1 bowl of beans _________4300
2 bowls of Garri (1500x2) 3000
Palmoil ____1200
5 Eggs ___1000
2 Spaghetti _____2000
Salt 100
Seasonings____400
Milk (no even reason am)
Data subscription ____2000
Airtime 1000

Total is 20,200

All this is excluding Transportation to school

It won't even last you 2 weeks before the 20 finish..