…Loan now strictly tied to academic session, institutions urged to upload calendars promptly
By Ajewole Joshua|ABNews|August 21,2025
Abuja, Nigeria – August 21, 2025: The Nigerian Education Loan Fund (NELFUND) has announced fresh guidelines for the disbursement of upkeep loans to students across the country, stating that payments will henceforth be tied strictly to the academic session of each institution.
According to a statement issued by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, upkeep loan benefits will now only be available for the current academic year. Once an institution concludes its session, upkeep loan payments for that year will cease automatically. Students moving into a new academic year will therefore no longer receive disbursements for the preceding session.
The directive also mandates that all interested loan applicants must apply at the beginning of each academic session to remain eligible for institutional charges and upkeep benefits for that period.
In order to improve transparency and accuracy, NELFUND revealed that its loan portal is being automated to reflect this adjustment. The upgraded portal will display only upkeep loans tied to the relevant session that students have collected, thereby eliminating discrepancies.
The agency further urged institutions to upload their academic calendars and sessional information promptly. This, NELFUND noted, is critical to ensure that students enjoy the full upkeep benefits throughout the academic year.
Reaffirming its commitment, NELFUND emphasized that it remains dedicated to providing accessible and transparent loan support to Nigerian students, while seeking the cooperation of all stakeholders for the smooth implementation of the new guidelines.
For further inquiries, students and institutions have been directed to reach out via email at info@nelf.gov.ng or connect through NELFUND’s social media handles on X (@nelfund), Instagram (@nelfund), and on Facebook & LinkedIn (Nigerian Education Loan Fund – NELFUND).
