The Nigerian Education Loan Fund (NELFUND) in a new guideline says disbursements of upkeep loans to students will be done only when schools are in session and not during holidays.

The Director, Strategic Communications of NELFUND, Mrs. Oseyemi Oluwatuyi  in a statement said henceforth, students interested in applying for the loan would be required to apply at the beginning of every academic session to be eligible for both institutional charges and upkeep for that particular session.

The statement partly reads: “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.

“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.”