NELFUND Begins Payment of Upkeep Allowance to Students Who Updated Bank Details

The Nigerian Education Loan Fund (NELFUND) has officially restarted the distribution of upkeep allowances to eligible Nigerian students who transitioned from digital wallets to conventional bank accounts. This marks a significant advancement in improving the student loan disbursement process in Nigeria.

In a recent announcement by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, the agency confirmed that more than 3,600 students who initially registered with digital-only banks have now received their outstanding payments.

These beneficiaries updated their account information on the official NELFUND portal to include standard commercial bank details, enabling smoother transactions.

A Major Step Toward Resolving Disbursement Issues

This initiative represents a major breakthrough for NELFUND in resolving long-standing payment delays associated with Nigerian student loans. The agency has emphasized its dedication to delivering financial assistance to students in a more transparent and student-focused manner.

“We are grateful for the patience and cooperation demonstrated by students during the delays. Your efforts contributed to this positive outcome,” the agency stated.

Next Steps for Students Still Awaiting Payments

Students who have yet to receive their upkeep allowance and are still using digital banking platforms are urged to take immediate action. To ensure they receive their funds, NELFUND recommends the following:

• Log in to the NELFUND portal and submit a support ticket requesting permission to update banking details.
• Alternatively, contact your school’s IT department to report the issue, and the institution will forward the case to NELFUND for processing.

NELFUND reaffirmed its mission to leave no qualified student behind. The ongoing improvements are part of a broader strategy aimed at enhancing the overall effectiveness of the education loan system in Nigeria.

As the fund continues its effort to provide financial support to students across the country, NELFUND is working to ensure that future disbursements are handled more efficiently and without unnecessary delays.

Source: The Nation Nigeria