Tag NELFUND

The Nigerian Education Loan Fund, better known as NELFUND, has announced a new directive on upkeep loans for students. The gist is clear: upkeep payments are now tied to academic sessions, no carry-over from one year to the next. For many undergraduates relying on this support, it is a change that could affect how they plan their school year.

What the New Rule Says

The adjustment is straightforward but important.

• 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.

NELFUND has clarified the  delay in August stipend disbursement. The Nigerian Education Loan Fund (NELFUND) wishes to inform students that the delay in the August stipend is due to ongoing payment processing.

The Fund is conducting necessary security checks to protect public funds and ensure that they are properly allocated to the right beneficiaries.

• While we acknowledge that this process may cause some inconvenience, it is an essential part of our commitment to maintaining transparency, accountability, and to continue to uphold the integrity of the student loan program.
• We therefore ask for your patience and understanding during this period, as we strive to finalize the disbursement with the same level of diligence that has defined our operations thus far.
• We remain steadfast in our mission to empower students and enhance access to higher education across Nigeria.
• The fund is working diligently to complete the disbursements as soon as possible.

We appreciate the feedback from students and are pleased to see the level of engagement and attentiveness in monitoring the progress of the upkeep disbursements.

This level of involvement reinforces the significance of the student loan program, and we remain dedicated to supporting your educational pursuits, just as we have with previous disbursements.