NELFUND Set To Stop Student Loans During Holidays, Give Details

The Nigerian Loan Fund (NELFUND) announced that it will halt student loan disbursements during holidays, as per the academic calendar. Students will continue to receive upkeep payments for the ongoing academic session, with payments ceasing during holiday breaks.

Interested loan applicants must apply at the start of each academic session to qualify for coverage of institutional fees and upkeep. The fund has implemented adjustments to its loan portal to enhance transparency and enable tracking of disbursements.

Students benefiting from the scheme will receive monthly disbursements totaling a specific amount per year. NELFUND's Managing Director, Akintunde Sawyerr, highlighted the positive impact of the program on students, with nearly every beneficiary being the first in their family to attend university or college.

The fund has received numerous applications since its launch in May 2024, as part of the Renewed Hope Agenda to support young Nigerians in national development. NELFUND also issued a warning about fraudulent activities targeting Nigerian students, urging caution and.