NELFUND Announces New Rules for Student Upkeep Loan Disbursement
The Nigerian Education Loan Fund (NELFUND) has introduced new guidelines for how student upkeep loans will be processed and disbursed. Under the new policy, upkeep loans are now tied strictly to academic sessions. This means students must reapply at the start of every new session to access funds.
For undergraduates depending on this financial support, the directive introduces a new way of planning academic and living expenses. Below is a breakdown of the rules, requirements, portal updates, and responsibilities for both students and schools.
What the New Rule Says
NELFUND’s update is simple but significant:
- Upkeep loans apply only to the current academic session.
- Payments stop automatically once the session ends.
- Students must reapply at the start of every new session to continue receiving support.
There is no carry-over. Each session requires a fresh application cycle.
Application Requirements for Students
To qualify for upkeep loans and school fees coverage:
- Applications must be submitted at the beginning of every session.
- Students must provide complete and accurate details in the NELFUND loan portal.
- No previous balance or entitlement will roll over into the new year.
Role of the NELFUND Loan Portal
NELFUND has upgraded its loan portal to align with the session-based system. Key improvements include:
- Clear tracking of upkeep loans for each academic session.
- Transparency, showing exactly when and how much has been disbursed.
- Reduced errors and faster resolution of issues.
Students are encouraged to check the portal regularly to stay updated.
Responsibilities of Schools
Institutions also play a critical role in smooth loan disbursement. NELFUND has directed all schools to:
- Upload academic calendars and session details promptly.
- Provide accurate, updated records to enable timely payments.
Any delay from schools could result in delayed upkeep disbursements for their students.
Frequently Asked Questions (FAQs)
1. When will NELFUND disburse upkeep loans?
Disbursement usually begins once a school has uploaded its academic calendar and students have successfully completed their application for that session.
2. Can I apply for an upkeep loan mid-session?
No. Applications must be made at the start of the academic session. Mid-session applications will not be processed.
3. Do I need to reapply every year?
Yes. Upkeep loans are session-based, so you must submit a fresh application whenever a new session begins.
4. What happens if my school delays uploading its calendar?
If your school fails to update its session details, loan disbursement for students in that institution will be delayed. Students are advised to follow up with their school’s management.
5. Can unused upkeep funds roll over to the next session?
No. Once a session ends, upkeep disbursement for that session stops. Any unclaimed or unused funds will not carry over.
6. How can I track my loan payments?
Log into the NELFUND portal to view disbursement history, track payments, and confirm amounts collected.
7. Who should I contact if I have issues with my upkeep loan?
You can reach NELFUND via:
- Email: [email protected]
- X (Twitter): @nelfund
- Instagram: @nelfund
- Facebook & LinkedIn: Nigerian Education Loan Fund – NELFUND
Final Thought
NELFUND’s new rules bring clarity and structure to how student loans are disbursed. For students, the key is to apply at the start of every session, monitor the loan portal, and plan finances accordingly. For schools, the responsibility lies in promptly uploading academic calendars to avoid disruptions.
This session-based approach is designed to promote order, accountability, and transparency in Nigeria’s student loan system.
