The Nigerian Education Loan Fund (NELFUND) has explained its decision to align the disbursement of students’ upkeep loans with the academic calendars of their institutions, saying the move is to ensure fairness, transparency, and better coordination.
In a statement issued by the Fund’s Director of Strategic Communications, Oseyemi Oluwatuyi, NELFUND said the adjustment became necessary after reports that some students’ applications were rejected during the verification process. According to the agency, rejections at the institutional verification stage may occur where schools have not uploaded their academic calendars onto the NELFUND portal or where an institution has already verified or disbursed upkeep for a student in a prior session.
The Fund clarified that under the revised policy, upkeep loans will only be disbursed for the current academic session, requiring students to reapply at the start of each new year. The updated system will display only loans collected within a specific session, preventing duplication and ensuring disbursements remain tied to active enrolments.
NELFUND urged students who encountered rejections to liaise with their schools and ensure their academic calendars are uploaded. Institutions that have complied are already being processed for disbursement, while rejection notices have been issued to students from schools yet to provide their calendars. The Fund called on all institutions that have not complied to immediately submit their schedules through official channels to avoid disruptions.
Since the launch of the NELFUND portal on May 24, 2024, the student loan scheme has recorded strong interest across the country. Data from the agency shows that 754,862 students have registered, with 750,892 successfully submitting applications reflecting a 99 percent success rate. So far, 449,039 students have benefitted from the programme.
As of August 6, 2025, total disbursements under the scheme stood at N86.34 billion. Of this amount, N47.62 billion was paid directly to 218 institutions for tuition and fees, while N38.71 billion was disbursed as upkeep allowances to students to support their academic and daily living expenses.
NELFUND said the rising application numbers underscore the growing confidence in the loan scheme, noting that the portal recorded a 128 percent surge in new successful registrations in just one day, with 2,367 new users and 3,035 successful applications added.
By tying upkeep loans to academic calendars, the Fund said it aims to maintain harmony in disbursement, safeguard transparency, and ensure that support reaches students in line with their actual academic timelines.
