The Nigerian Education Loan Fund (NELFUND) has introduced clarified and streamlined guidelines for the disbursement of upkeep loans to students, emphasizing improved accountability and session-bound enforcement.
Key Highlights of the New Guidelines
- Session-Based Disbursement Only
- Upkeep loans will now be allocated strictly per academic session, and will automatically cease once an institution’s academic year ends — even if a student transitions into another session.
- Mandatory Re-application
- Students must reapply at the start of each new academic session to qualify for both institutional charges and upkeep benefits for that specific session.
- Automated Portal Updates
- The loan portal has been automated to show only the upkeep loans disbursed within the current session, ensuring transparency and preventing overpayments.
- Timely Institutional Cooperation
- Institutions are urged to upload academic calendars and session details promptly to avoid delays and ensure students receive their rightful upkeep support.
These changes were announced in a statement from Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND.
NELFUND reaffirmed its dedication to transparent, accessible, and efficient student loan administration. It and encouraged stakeholders to support the smooth rollout of these changes.
What Students Should Do Next
- Reapply each session to confirm eligibility for both tuition and upkeep disbursements.
- Watch for portal notifications reflecting the current session’s disbursement status.
- Ensure your institution uploads session details on time to avoid any hold-ups.
- Reach out via official NELFUND channels if you experience issues:
- Email: [email protected]
- Social Media: X (formerly Twitter): @nelfund, Instagram: @nelfund, Facebook & LinkedIn: Nigerian Education Loan Fund.
Students and institutions alike will need to stay proactive: reapply promptly, stay updated through the portal, and ensure calendar uploads are accurate and timely. These measures ensure smoother operations and help safeguard the integrity of the student loan system.
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