The Nigerian Education Loan Fund (NELFUND) has announced that its upkeep loan disbursement would now be strictly tied to the academic session of each institution.
As a result of this, students would no longer receive upkeep loans during school holidays as upon the conclusion of an institution’s academic year, upkeep payments for that session shall automatically cease.
The fund further stated that loan applicants must apply at the beginning of every academic session to be eligible for school fees and upkeep.
“Furthermore, 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.” A statement signed by Mrs. Oseyemi Oluwatuyi, NELFUND’s Director of strategic communications read.
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.
