NELFUND Issues New Rules on Student Upkeep Loan Payments

The Nigerian Education Loan Fund (NELFUND) has announced fresh guidelines for the disbursement of upkeep loans to students across tertiary institutions, linking payments strictly to the academic calendar of each school.

According to the new directive, students will only receive upkeep support for the duration of their current academic session. Once an institution’s academic year concludes, disbursements for that period will automatically stop. Students advancing to a new academic session must therefore reapply to access both tuition-related charges and upkeep allowances.

The agency explained that its loan application portal is being upgraded to reflect the new structure. Going forward, each applicant’s record will show only the upkeep benefits collected within the corresponding session, ensuring accountability and transparency.

NELFUND also urged institutions to upload their academic calendars and sessional data without delay, stressing that timely compliance is necessary for students to access their full entitlements.

Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, reaffirmed the fund’s commitment to supporting Nigerian students with an efficient and transparent loan system.

She called on students, parents, and schools to cooperate with the updated framework to guarantee smooth implementation.

For inquiries and assistance, the agency encouraged stakeholders to reach out through its official email, website, and verified social media handles.