By Joshua Tosin Ogunsakin 
The Nigerian Education Loan Fund, NELFUND, has announced that it will only be disbursing funds to students during the academic session of each institution.
The loan fund on Thursday made this announcement in a statement signed by the Director of Corporate Communications, Oseyemi Oluwatuyi.
It noted that it will no longer be disbursing funds to students when schools are on break.
“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.
NELFUND also noted that it is updating its payment portal to ensure ease and transparency.
“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,” he stated.