The Nigerian Education Loan Fund (NELFUND) has announced a new directive stating that upkeep loan disbursements will now be tied strictly to the academic session of each institution.
According to a statement issued by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, students will only be entitled to upkeep loans during their ongoing academic year. Once an institution’s academic session ends, disbursements for that year will automatically cease.
The statement further explained that students moving into a new academic year will no longer receive upkeep payments for the previous session. Instead, interested applicants are advised to submit their loan requests at the start of every academic session to be eligible for both institutional charges and upkeep allowances for that year.
To enhance transparency, the NELFUND loan portal is being automated to reflect these adjustments. The portal will now display only the upkeep loans collected by each student within the relevant session.
Institutions have also been urged to upload their academic calendars and sessional information promptly, to ensure that students can access the full benefits available to them.
“NELFUND remains committed to providing accessible, transparent, and efficient loan support to Nigerian students. We count on the cooperation of all stakeholders to guarantee the smooth implementation of this new directive,” the statement concluded.
