NELFUND Limits Upkeep Loans To Academic Sessions
The Nigerian Education Loan Fund (NELFUND) has disclosed that upkeep loan disbursement will now be strictly tied to the academic sessions of each institution.
NELFUND’s spokesperson, Mrs Oseyemi Oluwatuyi, in a statement on Thursday, explained that students will be entitled to upkeep loans for their current academic sessions.
“The Nigerian Education Loan Fund (NELFUND) hereby informs students, institutions, and the public that upkeep loan disbursement is strictly tied to the academic session of each institution.
“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 said.
The statement added that loan applicants must apply at the beginning of every academic session to be eligible for institutional charges and upkeep.
“Furthermore, interested loan 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,” it said.
NELFUND also said that the loan portal is being automated to reflect these changes for accuracy and transparency.
It advised institutions to upload academic calendars and sessional information in a timely manner to ensure students receive full upkeep benefits.
“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.
“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.
“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.
“For further enquiries or assistance, please contact us via email at [email protected] or reach out through our official social media platforms,” the statement said.
NELFUND Limits Upkeep Loans To Academic Sessions is first published on The Whistler Newspaper
