The Nigerian Education Loan Fund (NELFUND) has announced the closure of its application portal for the 2024/2025 academic session on Tuesday.
In an update posted on X, the agency said the decision was to allow it to conclude processing of pending applications and upkeep payments.
NELFUND also outlined timelines for the 2025/2026 academic cycle aimed at expanding access to higher education through interest-free student loans. The portal will reopen in the second week of October for fresh applications and remain open until January 2026.
“NELFUND remains committed to removing financial barriers for students and working with institutions to ensure that no eligible student is left behind. These timelines provide clarity for students, parents, and institutions to plan and participate fully in the process,” the agency stated.
Managing Director of NELFUND, Akintunde Sawyerr, confirmed the development on Monday in Abuja and directed institutions to update students’ records on the Student Verification System to enable applicants to access the scheme.
He noted that all unverified applications for 2024/2025 would be automatically cancelled after October 8, with affected students required to reapply under the new session.
Sawyerr warned that institutions failing to verify students’ records risk being publicly listed for non-compliance.
On upkeep stipends, he explained that payment for the 2024/2025 session would continue until November, adding that students would need to reapply for 2025/2026 to continue receiving payments.
Responding to concerns about upkeep stipends, Sawyerr said the current ₦20,000 monthly allowance would not be increased immediately.
On repayment terms, he reiterated that the scheme remains interest-free, with repayment beginning two years after completion of the National Youth Service Corps (NYSC) and employers mandated to deduct 10 percent of beneficiaries’ salaries.
