NELFUND Introduces New Guidelines for Student Upkeep Loans

The Nigerian Education Loan Fund (NELFUND) has introduced a new disbursement policy for student upkeep loans, linking payments strictly to each institution’s academic calendar.

Under the new arrangement, upkeep loans will only cover the current academic session, and students will be required to reapply at the start of every new session to access both institutional charges and upkeep benefits.

To ensure transparency, NELFUND is automating its portal to track and display upkeep loans collected by each student per session. Tertiary institutions have also been directed to promptly upload their academic calendars and session details to enable students to access full benefits without delay.

According to the Fund, the change is aimed at improving accountability, preventing misuse of funds, and ensuring that financial support goes only to active students in valid academic sessions.

Students advancing to a new academic year will no longer be eligible for upkeep disbursements from the previous session, making it important for them to plan their finances carefully and reapply for loans on time to avoid disruptions in support.