The Nigerian Education Loan Fund (NELFUND) has announced new guidelines for the disbursement of student upkeep loans, stating that such payments will now be strictly tied to the academic session of each institution.
According to the directive, students will only be entitled to upkeep loans for their current academic session. Once an institution’s academic year ends, upkeep payments for that session will automatically cease. Students moving into a new academic year will therefore no longer receive disbursements for the previous session.
In addition, loan applicants are required to apply at the beginning of every academic session to remain eligible for both institutional charges and upkeep allowances for that session.
To enhance transparency, the NELFUND loan portal is being automated to reflect the changes. The system will now display only the upkeep loans collected by each student during the relevant session. Institutions are also urged to upload their academic calendars and sessional information promptly to ensure that their students receive full upkeep benefits throughout the year.
Speaking on the development, Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, reaffirmed the agency’s commitment to providing accessible, transparent, and efficient loan support** to Nigerian students. She further called for the cooperation of all stakeholders in implementing the new directive smoothly.
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