Abuja: The Nigerian Education Loan Fund (NELFUND) says that upkeep loan disbursement is now strictly tied to the academic session of each institution.
According to News Agency of Nigeria, NELFUND disclosed this in a statement made available to newsmen in Abuja on Thursday by its Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi. “In line with this directive, students shall only be entitled to upkeep loans for their current academic session. Upon the conclusion of an institution’s academic year, upkeep payments for that session shall automatically cease,” she said.
Oluwatuyi stated that students who transition into a new academic year would no longer receive upkeep disbursements for the preceding session. She further mentioned that interested loan applicants were 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, NELFUND is automating its loan portal to reflect this adjustment. “The portal will henceforth display only the upkeep loans that have been collected by each student within the relevant session,” she added.
Oluwatuyi advised institutions 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.”
For further inquiries or assistance, NELFUND can be contacted via email at [email protected] or through its official social media platforms, including X (formerly Twitter) and Instagram: @nelfund, and on Facebook and LinkedIn: Nigerian Education Loan Fund.
