NELFUND Announces New Guidelines on Upkeep Loan Disbursement

NELFUND Announces New Guidelines on Upkeep Loan Disbursement | NELFUND has released fresh rules for student upkeep loan payments. Loans will now run strictly within each academic session, and applicants must reapply at the start of a new session. Full details, including portal changes and school responsibilities, are outlined below.

NELFUND has announced a new directive: upkeep loans are now tied to individual academic sessions, with no carry-over. This change may affect how undergraduates plan their school year.

What the New Rule Says

The adjustment is straightforward but important. NELFUND’s new policy means that each student loan is tied to a specific academic session. This implies that students will need to reapply for loans at the beginning of every new session, and there will be no carry-over of funds from one session to the next.

• Students will only receive upkeep loans for their current academic session.
• Once the school year ends, the upkeep for that session stops automatically.
• Moving into a new academic year means students must reapply, since the old upkeep will not continue.

It is like a tap that closes at the end of each year, and you have to open it again when the next one begins.

Application Requirements

Interested students need to take note of this step:

• Applications must be made at the start of every academic session.
• Only then can you qualify for both the upkeep and payment of school charges for that session.

No rolling over, no shortcuts. It is a clean start each year.

Role of the Portal

NELFUND is automating its loan portal to reflect the new arrangement. What this means is:

• The portal will now show only the upkeep loans tied to each academic session.
• Students can see clearly what they have collected and when.

This move is to keep things transparent and reduce mix-ups.

Responsibility of Schools

The ball is not in the students’ court alone. Institutions too must play their part.

• Schools are strongly advised to upload their academic calendars and session details early.
• This ensures students get their full upkeep benefits without delay.

If schools drag their feet, it could slow down payments for their students.

Final Thought

NELFUND says it remains committed to supporting Nigerian students with fair and open loans. But the message is clear: everyone has to stick to the new process. For students, it means staying alert, reapplying when each session begins, and keeping an eye on the portal. For schools, it means timely updates.

Questions or complaints? They can be reached via email at info@nelf.gov.ng or on their social media pages:

• X (Twitter): @nelfund
• Instagram: @nelfund
• Facebook & LinkedIn: Nigerian Education Loan Fund – NELFUND

At the end of the day, it is about order and planning. And as we say here, “who no plan, go just dey stranded.”