NEWS
NELFUND Introduces New Rules, Ties Student Upkeep Loans Strictly To Academic Sessions
The Nigerian Education Loan Fund (NELFUND) has released fresh guidelines for disbursing student upkeep loans, stating that payments will now strictly align with the academic sessions of individual institutions.
In a statement signed by its Director of Strategic Communications, Oseyemi Oluwatuyi, NELFUND explained that upkeep loans will cover only the current academic session of a student. Payments will automatically stop once an institution’s session ends, preventing disbursement from rolling over into a new academic year.
Students must also reapply at the start of every session to qualify for institutional charges and upkeep benefits. The loan portal has been updated to reflect session-based disbursements, displaying only the upkeep loans collected by each student during a given academic year.
Tertiary institutions have been directed to upload their academic calendars promptly to avoid payment delays.
NELFUND reaffirmed its commitment to transparency and efficiency, saying the measures are designed to improve accountability and ensure smooth loan administration. Students and institutions seeking further information are advised to use the Fund’s official communication channels.
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