The Nigerian Education Loan Fund (NELFUND) has announced new guidelines on upkeep loan disbursement, making it clear that payments will now strictly align with the academic session of each institution.
In a statement signed by Oseyemi Oluwatuyi, director of strategic communications, the agency said students would only be entitled to upkeep loans for their current academic session. Once an academic year ends, upkeep payments for that session will cease automatically.
“Students who transition into a new academic year will no longer receive upkeep disbursements for the preceding session,” the statement reads.
According to the new directive, students are required to apply for loans at the beginning of every academic session to access funding for both institutional charges and upkeep for that period.
To improve transparency, Oluwatuyi said the NELFUND loan portal is being automated to reflect the adjustment, adding that the system will now display only upkeep loans collected by each student within a specific session.
The agency also urged institutions to promptly upload their academic calendars and sessional information to ensure that students receive the full benefits of the upkeep loans.
“Compliance with this directive will guarantee accuracy and smooth disbursement of student upkeep loans,” she added.
Oluwatuyi reaffirmed NELFUND’s commitment to providing accessible, transparent, and efficient loan support to Nigerian students, while seeking the cooperation of institutions and other stakeholders for effective implementation.
For further inquiries, the agency encouraged the public to reach out via email at info@nelf.gov.ng or through its official social media platforms: X (@nelfund), Instagram (@nelfund), and Facebook/LinkedIn (Nigerian Education Loan Fund – NELFUND).
