By Anifowoshe Oladipupo
The Nigerian Education Loan Fund (NELFUND), has tied its N20,000 monthly student upkeep stipend to the academic sessions of institutions, ending payments during holidays and breaks.
In a statement, NELFUND’s Director of Corporate Communications, Oseyemi Oluwatuyi, explained that students “shall only be entitled to upkeep loans for their current academic session.”
Disbursements will automatically stop at the close of each session, requiring students to reapply for both tuition and upkeep in subsequent sessions.
To enforce the new policy, NELFUND said its loan portal is being automated to align payments with academic calendars. Institutions have been urged to upload their calendars promptly to guarantee full coverage for students.
The agency said the reform is designed to improve accountability and ensure transparent disbursement of funds.
