Abuja, Nigeria – August 21, 2025 – The Nigerian Education Loan Fund (NELFUND) has issued a new directive on upkeep loan disbursement, stating that payments will now be tied strictly to the academic session of each institution.
In a statement from the Presidency, NELFUND emphasized that upkeep loans will only apply to the current academic year of a student.
“Students shall only be entitled to upkeep loans for their current academic session. Upon the conclusion of an institution’s academic year, upkeep payments for that session shall automatically cease,” the statement read.
This means students moving into a new academic year will no longer receive upkeep disbursements for the previous session.
To remain eligible, loan applicants must reapply at the beginning of every academic session to access both institutional charges and upkeep allowances for that period.
According to NELFUND, the loan portal is currently being automated to reflect this change. The portal will now display only the upkeep loans collected by each student within the relevant session, ensuring transparency and accountability in the disbursement process.
Institutions have also been instructed to play a key role in this implementation. “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,” the agency stated.
NELFUND assured that it remains committed to supporting Nigerian students through accessible and efficient loan schemes.
“NELFUND remains committed to its mandate of providing accessible, transparent, and efficient loan support to Nigerian students, and counts on the cooperation of all stakeholders in the smooth implementation of this directive,” said Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND.