The Nigerian Education Loan Fund (NELFUND) has announced new guidelines linking the disbursement of student upkeep loans directly to their institution’s academic calendar.
Under the new policy, payments are automatically stopped at the end of an academic session. To receive funds for the new session, students must reapply each year for both tuition and upkeep support.
NELFUND has automated its portal to manage these session-based disbursements. The agency also urged tertiary institutions to promptly upload their academic calendars to prevent payment delays for students.
The Fund stated these measures aim to enhance transparency, accountability, and efficiency in its loan administration process
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