NELFUND Provides Clarity on Loan Policies and Repayment Terms

The Nigerian Education Loan Fund (NELFUND) has addressed concerns and clarified its policies and repayment terms for students.

According to the Students' Representative Council (SRC) President of the Federal University of Kashere, key highlights include:

NELFUND has outlined flexible repayment terms, including a two-year grace period after NYSC or official exemption. The loan is automatically canceled in the event of death or permanent incapacity. All students admitted into government-approved higher institutions are eligible for the loan.

The organization also clarified that registration fees are paid directly to universities, while upkeep allowances are sent to students. Reviews are ongoing for the upkeep allowance, and students are advised to avoid third-party payments and ensure accurate bank account information.

The SRC President urged students to apply responsibly and follow official guidelines, emphasizing NELFUND's commitment to supporting eligible students.