The Nigerian Education Loan Fund (NELFUND) has announced that it will only pay upkeep allowance for current academic session.

Specifically, it noted that students will no longer receive financial support for living expenses beyond their current session.

It also called on interested applicants 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.

Director, Strategic Communications of the agency, Oseyemi Oluwatuyi,stated this in a statement on Thursday.
“In line with this directive, 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. Consequently, students who transition into a new academic year will no longer receive upkeep disbursements for the preceding session,” the statement reads.

The release advised beneficiary institutions 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.
“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.
“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,” Oluwatuyi said.