Nelfund: Students Urged To Upgrade Accounts To Avoid Delay Payment

LASUSTECH NELFUND bank account upgrade is vital for receiving tuition and ₦20,000 monthly allowance. Students must act quickly to avoid missing educational support

LASUSTECH NELFUND bank account upgrade has become a critical step for students of Lagos State University of Science and Technology aiming to access Nigeria’s student loan programme.

The university’s NELFUND Desk Officer, Dr. Oduntan, has urged all eligible students to upgrade their bank accounts without delay. “Students need to visit their banks and upgrade their accounts promptly,” he advised. “This is crucial for the successful transfer of both tuition fees and upkeep allowances.”

NELFUND, the Nigeria Education Loan Fund, provides zero-interest loans to students in tertiary institutions, including ₦20,000 monthly stipends. However, these benefits can only be accessed through valid and upgraded bank accounts, particularly those registered with a student’s NIN and BVN.

To ensure seamless disbursement, students must use traditional commercial banks like GTBank, UBA, Zenith Bank, and First Bank. Use of fintech platforms such as Kuda, PalmPay, or OPay is discouraged as they may not meet NELFUND’s disbursement requirements.

The loan disbursement process separates tuition from allowances: school fees go directly to the institution, while the monthly upkeep allowance is paid into individual student accounts.

Students are advised to present proof of identity during the account upgrade process and ensure that their account limits meet the required thresholds for NELFUND participation.

With government-backed funds readily available, acting swiftly is key. LASUSTECH students are encouraged to complete their bank account upgrades immediately to avoid any disruption in accessing this vital academic support.

Failure to do so could result in missed disbursements, placing undue financial strain on students. The message is clear: upgrade now or risk being left behind.