The Nigerian Education Loan Fund (NELFUND) has announced that students will no longer receive upkeep loans during school holidays, a move it says is aimed at aligning disbursements strictly with academic sessions.
In a statement signed by the Director of Corporate Communications, Oseyemi Oluwatuyi, on Thursday, NELFUND said the monthly ₦20,000 upkeep support currently paid to beneficiaries will now be tied to institutions’ academic calendars.
“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,”Oluwatuyi stated.
The directive means students must now reapply for loans at the start of every new academic session to access both tuition-related charges and upkeep allowances. According to NELFUND, its loan portal is being automated to ensure transparency by reflecting only the upkeep loans collected within a specific academic 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,”the statement added.
As of August 21, 2025, NELFUND has disbursed a total of ₦86 billion to 449,039 student beneficiaries nationwide under the scheme.
NELFUND To Stop Upkeep Loan Disbursement During School Holidays, a policy shift that may spark mixed reactions from students who depend on the stipend to cover living expenses beyond the classroom.
