NELFUND Announces New Rule: No Carry-Over for Student Upkeep Loans
The Nigerian Education Loan Fund (NELFUND) has rolled out a major update on how student upkeep loans will be disbursed. Starting from now, upkeep payments will only cover the current academic session, with no carry-over to the next year.
For thousands of undergraduates who depend on this financial support, the new rule means one thing: you must reapply every academic session to keep receiving upkeep funds.
What the New NELFUND Rule Means
The directive is simple but highly important:
- Students will only receive upkeep loans for the academic session they apply for.
- At the end of the school year, upkeep payments will automatically stop.
- Entering a new academic session means reapplying afresh.
Think of it like a water tap: once the session ends, the tap closes. To get more upkeep support, you’ll need to open it again at the start of the next session.
How to Apply for NELFUND Loans Under the New Rule
Students must pay close attention to the new process:
- Applications must be made at the beginning of every academic session.
- Only fresh applications qualify you for both upkeep support and school fee payments.
- There will be no rollovers or shortcuts – each year is a clean slate.
What’s New on the Loan Portal?
NELFUND is upgrading its loan portal to reflect these changes:
- The portal will now display session-specific upkeep loans.
- Students can easily track what they collected and when.
- This system improves transparency and reduces confusion.
What Schools Must Do
The responsibility isn’t only on students. Schools also have a role to play:
- Institutions must upload their academic calendars and session details on time.
- Early updates will help students receive their upkeep payments faster.
- Delays by schools could slow down loan disbursement.
Final Take
NELFUND reassures students that it remains committed to fair and transparent support. However, students must stay alert and reapply once each session begins, while schools must ensure timely calendar updates.
For inquiries or complaints, students can reach NELFUND through:
- Email: [email protected]
- X (Twitter): @nelfund
- Instagram: @nelfund
- Facebook & LinkedIn: Nigerian Education Loan Fund – NELFUND
In the end, it all comes down to planning. As the saying goes: “Who no plan, go just dey stranded.”
You may also like to read: LASU Announces Disbursement of Nigerian Education Loan Fund (NELFUND) for 2024/2025 Students
