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Home Sectors Education

NELFUND clarifies decision to align students’ upkeep loan disbursement with institutions’ academic session

Rosalia Ozibo by Rosalia Ozibo
August 21, 2025
in Education, Sectors
NELFUND’s Managing Director, Akintunde Sawyerr

Mr. Akintunde Sawyerr, Managing Director NELFUND

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The Nigerian Education Loan Fund (NELFUND) has clarified its decision to align students’ upkeep loan disbursement with each institution’s academic calendar.

In a statement signed by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND explained that this adjustment is intended to promote fairness, transparency, and alignment with schools’ schedules.

Some students’ applications may have been rejected because their schools had not yet uploaded academic calendars onto the NELFUND portal.

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“At the initial stage of application – rejection may result from incomplete or unclear institutional verification stages. 

 “At the institutional verification stage – rejection may result from an institution having verified or disbursed upkeep for the same student in a prior academic session,” they stated.

Backstory 

Nairametrics reported that NELFUND revised its policy on student upkeep loans, requiring disbursements to follow each institution’s academic session. Students are now entitled to upkeep loans only for their current session and must reapply at the start of each academic year.

The updated NELFUND portal will display only loans collected within the relevant session, ensuring transparency and preventing duplicate payments.

Students urged to liaise with institutions 

NELFUND encouraged affected students to engage their institutions to ensure that their academic session calendars are uploaded.

“Where an institution provides proof of an uploaded academic calendar, students are already being processed for disbursement. For harmony, rejection notices have been sent to students whose institutions are yet to upload their academic calendars,” the agency explained.

The Fund called on institutions that have not yet complied with the new loan scheme to provide their academic calendars through official channels.

Disbursement so far 

Since the launch of the portal on May 24, 2024, the student loan scheme has seen significant uptake across the country. A total of 754,862 students have registered for the programme, and 750,892 applications were successfully submitted, reflecting a 99% application success rate among registrants.

To date, 449,039 students have benefitted from the loan, showing strong progress in the scheme’s implementation. Compared to the previous day, the number of new successful registrants surged by 128%, with 2,367 new registrations and 3,035 successful applications recorded, highlighting growing engagement with the portal.

As of August 6, 2025, the total disbursement of the student loan programme reached N86.34 billion. Of this amount, N47.62 billion has been paid to 218 institutions to cover institutional fees, while N38.71 billion has been released directly to students as upkeep allowances, supporting their day-to-day academic and living expenses.


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Tags: NELFUNDStudent upkeep loans
Rosalia Ozibo

Rosalia Ozibo

Rosalia is a versatile journalist with a focus on technology and education. She has a talent for turning complex ideas into engaging stories, exploring how innovation and learning shape the future of people, business, and society. From tracking shifts in digital transformation and emerging tech to writing about developments in education policy and practice, her work bridges insight and accessibility. Known for sharp analysis and compelling storytelling, she continues to provide readers with perspectives that connect knowledge, opportunity, and the evolving world of work.

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Comments 4

  1. Oladeji Muhammad taiwo says:
    August 23, 2025 at 8:19 pm

    My monthly upkeep still in pending and needs alot of money to repay my deptors

    Reply
  2. Akintola samuel says:
    August 25, 2025 at 11:46 pm

    This is cruel decision and it is to denying many students who has been enjoying the benefits for their own personal Gain.
    Secondly, it will not be funny that many students may not be allowed to write exam once the method to follow academic year failed
    Thirdly,the process hasn’t been circulated enough to reprocess processed form won’t allow new members.
    Lastly, it will make all the beneficiary to diminish interest in PBAT

    Reply
  3. Adam Bunu says:
    August 27, 2025 at 10:38 pm

    they stopped paying why

    Reply
  4. Abdulkudus Alhaji Umar says:
    August 28, 2025 at 1:08 pm

    Why my upkeep show unapproved loans

    Reply

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