The Nigerian Education Loan Fund (NELFUND) has introduced new guidelines linking upkeep loan disbursement strictly to the academic sessions of institutions across the country.
In a statement signed by the Director of Strategic Communications, Oseyemi Oluwatuyi, NELFUND explained that students will now only be entitled to upkeep loans for their current academic session. Once an institution’s academic year concludes, upkeep payments for that session will automatically end.
According to the directive, students seeking to benefit from the scheme are required to reapply at the beginning of every academic session. This ensures they are eligible for both institutional charges and upkeep payments for that particular session.
The agency also noted that its loan portal is undergoing automation to reflect the new adjustment, a move aimed at ensuring accuracy, transparency, and seamless access for applicants.
This development is part of NELFUND’s effort to streamline its processes and ensure that financial support is aligned with students’ academic timelines.
