The Nigerian Education Loan Fund (NELFUND) has announced that it is adjusting students’ upkeep loan disbursements to match the academic session of each institution.
In a statement issued in Abuja and signed by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND noted that students will only be eligible for upkeep loans during their current academic session. Once an institution’s academic year concludes, upkeep payments for that period will automatically stop.
Mrs. Oluwatuyi explained that students advancing to a new academic year will no longer receive upkeep loans for the previous session and must reapply for the loan at the start of every academic session to qualify for both institutional charges and upkeep.
To promote transparency and accuracy, NELFUND is automating its loan portal to reflect these changes, ensuring that it only displays upkeep loans collected within the relevant academic session.
Institutions have been urged to upload their academic calendars promptly to help students receive their full upkeep benefits.
NELFUND reaffirmed its commitment to providing accessible and efficient loan support to Nigerian students and called on all stakeholders to cooperate in implementing the new directive smoothly.
