NELFUND announces new guidelines on upkeep loan disbursement

The Nigerian Education Loan Fund (NELFUND) has announced that upkeep loan disbursement is now strictly tied to the academic session of each institution.

NELFUND disclosed this in a statement issued by its Director of Strategic Communications, Oseyemi Oluwatuyi, on Thursday, August 21, 2025.

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

“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.

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“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.”

Oluwatuyi also urged 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,” she added.

The Star