The Nigerian Education Loan Fund (NELFUND) has announced a major update to its student loan scheme, stating that upkeep loans will now be tied strictly to each academic session.
According to the directive, once an institution’s academic year ends, upkeep payments for that session will automatically stop. To continue accessing support, students will be required to reapply for loans at the beginning of every academic session to cover both institutional charges and upkeep for that year.
In a statement, NELFUND urged higher institutions across the country to upload their academic calendars early, noting that timely submission would allow students to enjoy the full benefits of upkeep payments without disruption.
The agency reassured students that it remains committed to providing fair, transparent, and effective loan support to ease the financial burden of tertiary education in Nigeria.
The initiative is part of NELFUND’s ongoing reforms to strengthen accountability and ensure that loans are disbursed in line with actual academic timelines.
