Education

NELFUND releases new guidelines for student loan disbursement

By Clifford Ejenavi The Nigerian Education Loan Fund (NELFUND) has released new guidelines for student upkeep loan, informing students, institutions, and the public that upkeep loan disbursement is now strictly tied to the academic session of each institution. This was contained in a statement on Thursday August 21, 2025 in Abuja by the Director, Strategic…

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By Clifford Ejenavi

The Nigerian Education Loan Fund (NELFUND) has released new guidelines for student upkeep loan, informing students, institutions, and the public that upkeep loan disbursement is now strictly tied to the academic session of each institution.

This was contained in a statement on Thursday August 21, 2025 in Abuja by the Director, Strategic Communications, NELFUND, Mrs. Oseyemi Oluwatuyi.

In line with this directive according to the statement, students shall only be entitled to upkeep loans for their current academic session, adding that upon the conclusion of an institution’s academic year, upkeep payments for that session shall automatically cease.

“Consequently, students who transition into a new academic year will no longer receive upkeep disbursements for the preceding session,” it stated.

“Furthermore, interested loan applicants are required to apply for the loan at the beginning of every academic session to be eligible for both institutional charges and upkeep for that particular session.

“To ensure accuracy and transparency, the NELFUND loan portal is being automated to reflect this adjustment. The portal will henceforth display only the upkeep loans that have been collected by each student within the relevant session.

“Institutions are therefore strongly advised to upload their academic calendars and sessional information in a timely manner to guarantee that their students receive the full upkeep benefits due to them for an entire academic year.

“NELFUND remains committed to its mandate of providing accessible, transparent, and efficient loan support to Nigerian students, and counts on the cooperation of all stakeholders in the smooth implementation of this directive,” the statement read.

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