The Nigerian Education Loan Fund (NELFUND) has announced plans to discontinue the disbursement of upkeep loans to students during school holidays, tying the benefit strictly to academic sessions.
In a statement on Thursday signed by its Director of Corporate Communications, Oseyemi Oluwatuyi, the agency said upkeep loans of ₦20,000 monthly would henceforth cease once an institution’s academic year ends. Beneficiaries will only receive disbursements for the period covered by their current academic session.
“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,” Oluwatuyi stated.
The fund also directed that students transitioning into a new academic year will not continue to receive upkeep payments from the previous one. To remain eligible, applicants must reapply for loans at the beginning of each session to cover both institutional charges and upkeep.
According to NELFUND, its portal is being automated to reflect the new policy, showing only the upkeep loans collected by each student within a session. Institutions were advised to upload their academic calendars promptly to ensure beneficiaries access their full upkeep benefits.
As of August 21, 2025, the agency disclosed that ₦86 billion had been disbursed to 449,039 student beneficiaries nationwide under the scheme.
