- The Nigerian Education Loan Fund (NELFUND) has announced that upkeep loan payments of ₦20,000 to students will only apply during active academic sessions, ending once schools go on holiday.
- NELFUND’s spokesperson, Oseyemi Oluwatuyi, explained that students must reapply at the start of each session to access both tuition and upkeep loans
The Nigerian Education Loan Fund (NELFUND) says upkeep loan payments to students will stop once schools go on holiday.
Currently, beneficiaries receive ₦20,000 monthly alongside institutional payments, but moving forward, upkeep loans will only be paid during active academic sessions.
“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,” NELFUND’s Director of Corporate Communications, Oseyemi Oluwatuyi, said in a statement on Thursday.
He advised applicants to apply at the start of each session to remain eligible for both upkeep and institutional loans.
“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,” Oluwatuyi added.
As of August 21, 2025, NELFUND has disbursed ₦86 billion to 449,039 student beneficiaries nationwide.
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