The Nigerian Schooling Mortgage Fund (NELFUND) has clarified its determination to align college students’ maintenance mortgage disbursement with every establishment’s educational calendar.
In a press release signed by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND defined that this adjustment is meant to advertise equity, transparency, and alignment with colleges’ schedules.
Some college students’ purposes might have been rejected as a result of their colleges had not but uploaded educational calendars onto the NELFUND portal.
“On the preliminary stage of software – rejection might end result from incomplete or unclear institutional verification levels.
“On the institutional verification stage – rejection might end result from an establishment having verified or disbursed maintenance for a similar scholar in a previous educational session,” they acknowledged.
Backstory
Nairametrics reported that NELFUND revised its coverage on scholar maintenance loans, requiring disbursements to observe every establishment’s educational session. College students at the moment are entitled to maintenance loans just for their present session and should reapply at the beginning of every educational yr.
The up to date NELFUND portal will show solely loans collected inside the related session, guaranteeing transparency and stopping duplicate funds.
College students urged to liaise with establishments
NELFUND inspired affected college students to have interaction their establishments to make sure that their educational session calendars are uploaded.
“The place an establishment gives proof of an uploaded educational 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 educational calendars,” the company defined.
The Fund known as on establishments that haven’t but complied with the brand new mortgage scheme to offer their educational calendars by official channels.
Disbursement up to now
For the reason that launch of the portal on Might 24, 2024, the coed 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 have been efficiently submitted, reflecting a 99% software success charge amongst registrants.
So far, 449,039 college students have benefitted from the mortgage, exhibiting sturdy progress within the scheme’s implementation. In comparison with the day prior to this, 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 full disbursement of the coed 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 educational and residing bills.
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