NELFUND Announces New Guidelines on Students Loan Disbursement
The Nigerian Education Loan Fund (NELFUND) has announced that its upkeep disbursement to beneficiary students will now be strictly tied to the academic session of each institution.
This was in a statement released on Thursday by the Director, Strategic Communications of NELFUND, Mrs. Oseyemi Oluwatuyi.
She said the move was to enhance service delivery.
“NELFUND hereby informs students, institutions, and the public that upkeep loan disbursement is strictly tied to the academic session of each institution.
“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,” Mrs Oluwatuyi said.
Institutional charges
Mrs Oluwatuyi explained that 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.
“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.
“Institutions are therefore strongly advised 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,” she said.
She said NELFUND remained committed to its mandate of providing accessible, transparent, and efficient loan support to Nigerian students.
She urged the public that are in need of further inquiries or assistance to contact the fund via email at info@nelf.gov.ng or reach out through official social media platforms, which include: X (formerly Twitter): @nelfund, Instagram: @nelfund, Facebook & LinkedIn: Nigerian Education Loan Fund.