NELFUND Announces Changes to Student Allowance Payments

The Nigerian Education Loan Fund (NELFUND) has announced a significant change in its student allowance payment structure.

According to a statement signed by NELFUND's Director of Corporate Communications, Oseyemi Oluwatuyi, students will no longer receive the monthly ₦20,000 upkeep allowance during school breaks.

The monthly allowance will now only be paid during academic sessions, aligning with each institution's academic calendar.Students must apply for the loan at the start of each academic session to qualify for both institutional fees and upkeep allowances.

Upon the conclusion of an institution's academic year, upkeep payments for that session will automatically cease.

This change means students transitioning into a new academic year will no longer receive upkeep disbursements for the preceding session. NELFUND is updating its loan portal to reflect this adjustment, ensuring accuracy and transparency in the payment process.