The Nigeria Educational Loans and Grants Board (NELFUND) has provided clarification regarding its recent decision to align the disbursement of students’ upkeep loans with the academic sessions of their respective institutions. This adjustment aims to ensure that financial support is delivered in a timely and efficient manner, corresponding directly with the school terms of beneficiaries.
In an official statement, NELFUND emphasized that the move is intended to enhance the management of funds and improve the overall welfare of students by matching loan payments with periods when students most require financial assistance. By syncing the disbursement schedule with academic calendars, the board seeks to reduce delays and financial strain on students during critical parts of their education.
The board also assured that this decision would not affect the total amount allocated to students but would instead streamline the payment process, making it more predictable and easier for both students and institutions to plan their budgets.
NELFUND urged all stakeholders, including students, educational institutions, and relevant authorities, to cooperate fully with the new arrangement. The board reaffirmed its commitment to supporting Nigerian students through transparent, timely, and effective financial aid programs designed to promote access to quality education across the country.
NELFUND Explains New Policy to Synchronize Students’ Upkeep Loan Payments with Academic Calendars
