The Nigerian Schooling Mortgage Fund (NELFUND) has clarified its resolution to align college students’ maintenance mortgage disbursement with every establishment’s tutorial calendar.
In an announcement signed by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND defined that this adjustment is meant to advertise equity, transparency, and alignment with faculties’ schedules.
Some college students’ purposes could have been rejected as a result of their faculties had not but uploaded tutorial calendars onto the NELFUND portal.
“On the preliminary stage of software – rejection could end result from incomplete or unclear institutional verification levels.
“On the institutional verification stage – rejection could end result from an establishment having verified or disbursed maintenance for a similar pupil in a previous tutorial session,” they said.
Nairametrics reported that NELFUND revised its coverage on pupil maintenance loans, requiring disbursements to comply with every establishment’s tutorial session. College students are actually entitled to maintenance loans just for their present session and should reapply in the beginning of every tutorial 12 months.
The up to date NELFUND portal will show solely loans collected throughout the related session, guaranteeing transparency and stopping duplicate funds.
NELFUND inspired affected college students to interact their establishments to make sure that their tutorial session calendars are uploaded.
“The place an establishment offers proof of an uploaded tutorial calendar, college students are already being processed for disbursement. For concord, rejection notices have been despatched to college students whose establishments are but to add their tutorial calendars,” the company defined.
The Fund known as on establishments that haven’t but complied with the brand new mortgage scheme to supply their tutorial calendars by official channels.
Because the launch of the portal on Could 24, 2024, the scholar mortgage scheme has seen vital uptake throughout the nation. A complete of 754,862 college students have registered for the programme, and 750,892 purposes had been efficiently submitted, reflecting a 99% software success fee amongst registrants.
Up to now, 449,039 college students have benefitted from the mortgage, exhibiting sturdy progress within the scheme’s implementation. In comparison with the day before today, the variety of new profitable registrants surged by 128%, with 2,367 new registrations and three,035 profitable purposes recorded, highlighting rising engagement with the portal.
As of August 6, 2025, the whole disbursement of the scholar mortgage programme reached N86.34 billion. Of this quantity, N47.62 billion has been paid to 218 establishments to cowl institutional charges, whereas N38.71 billion has been launched on to college students as maintenance allowances, supporting their day-to-day tutorial and dwelling bills.
