Reading time:2 min read

NELFUND Introduces New Procedures for Loan Disbursement

The Nigerian Education Loan Fund (NELFUND) has introduced new procedures for the disbursement of upkeep loans.

A statement dated 21st August, 2025, and signed by Mrs. Oseyemi Oluwatuyi, the Director of Strategic Communications of NELFUND, implored students, institutions, and the public to be informed about the Fund’s new directive.

According to the statement, upkeep loans will only be available within the time frame of an academic year. Disbursement of upkeep loans will stop as the academic session concludes.

“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.

The statement also stated that 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.

The statement made it clear that only disbursed amounts will reflect on the student loan portal, as the portal is being automated in order to adjust to this new directive.

“The NELFUND loan portal is being automated to reflect this adjustment. The portal will henceforth display only upkeep loans that have been collected by each student within the relevant session."

Institutions are urged to provide their academic information on time, so that the upkeep can benefit their students throughout an academic calendar.

“Institutions are therefore strictly 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 statement read.