The Nigerian Education Loan Fund (NELFUND) has announced that upkeep loan disbursements will no longer be made during school holidays.
Currently, beneficiaries of the scheme receive a ₦20,000 monthly stipend in addition to tuition fees paid directly to their institutions. Under the new policy, however, upkeep loans will only be provided during active academic sessions.
“Students shall only be entitled to upkeep loans for their ongoing academic session. Once an institution’s academic year ends, upkeep payments for that session will automatically stop. Students entering a new academic year will not continue to receive upkeep disbursements from the previous session,” explained NELFUND’s Director of Corporate Communications, Oseyemi Oluwatuyi, in a statement on Thursday.
The agency also urged prospective applicants to submit their loan requests at the beginning of each academic session to remain eligible for both tuition and upkeep support.
To align with the adjustment, the NELFUND loan portal is being upgraded to automatically track disbursements per session. The portal will only display upkeep payments tied to the relevant academic year. Institutions have been advised to promptly upload their academic calendars and sessional details to ensure students receive the full upkeep benefits due for each year.
As of August 21, 2025, NELFUND reported a total disbursement of ₦86 billion to 449,039 student beneficiaries nationwide.
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