Nigerian students to reapply yearly for upkeep loans — NELFUND

The Nigerian Education Loan Fund (NELFUND) has announced a new directive requiring students in tertiary institutions to reapply for upkeep loans at the beginning of every academic session.

Under the updated policy, disbursements will no longer roll over automatically once an institution’s academic year ends.

Instead, students advancing to a new session must submit fresh applications to continue receiving upkeep support.

“Upon the conclusion of an institution’s academic year, upkeep payments for that session shall automatically cease.

“Students who transition into a new academic year will no longer receive upkeep disbursements for the preceding session,” NELFUND explained.

The Fund noted that its loan portal is being upgraded to reflect the change.

NELFUND stated that the improved system will show only the upkeep loans collected by each student in a given session, a move aimed at enhancing transparency.

It also called on institutions to promptly upload their academic calendars and sessional details to ensure students can fully access their upkeep benefits.

“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,” it said.

Reaffirming its commitment, it stated, “NELFund remains committed to providing accessible, transparent, and efficient loan support to Nigerian students and counts on the cooperation of all stakeholders.”

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