The Nigerian Education Loan Fund (NELFUND) has announced new guidelines on the disbursement of upkeep loans, making them strictly tied to the academic sessions of individual institutions.
According to the directive, students will only be entitled to upkeep loans for the duration of their current academic session. Once an institution concludes its academic year, upkeep payments for that session will automatically cease. This means students transitioning into a new academic session will not receive upkeep benefits from the previous one.
To access the facility, loan applicants are now required to apply at the beginning of every academic session. This ensures eligibility for both institutional charges and upkeep for that particular session.
For transparency, NELFUND has also automated its loan portal to reflect the changes. The portal will now display only the upkeep loans collected by students within the relevant academic session.
Institutions have been urged to upload their academic calendars and sessional information promptly to guarantee students receive the full upkeep benefits available to them for the academic year.
NELFUND reaffirmed its commitment to providing accessible and efficient loan support for Nigerian students, while calling on institutions and stakeholders to cooperate in implementing the new directive.
For further inquiries, students are encouraged to contact NELFUND via email or through its official social media handles.
