The Nigerian Education Loan Fund (NELFUND) has officially closed its application portal for the 2024/2025 academic session, effective Tuesday, signalling the conclusion of its second full cycle of operations.
In a statement issued on Monday by its Director of Strategic Communications, Oseyemi Oluwatuyi, the Fund stated that the closure would allow for the processing of pending applications, disbursement of upkeep allowances, and preparation for the upcoming cycle.
The portal is scheduled to reopen in the second week of October 2025 for the 2025/2026 academic session and will remain accessible until January 2026.
NELFUND urged all tertiary institutions to ensure timely updates of their students’ records on the Student Verification System, which is essential for eligibility in the new application cycle. Institutions that have not commenced a new academic session within the application window were asked to contact the Fund for possible concessions.
“All applications for the 2024/2025 academic session that remain unverified by institutions after 8 October 2025 will be automatically cancelled,” the statement warned.
READ ALSO: No ₦71bn missing from student loan programme – NELFUND clarifies
Students whose applications are still pending verification were strongly encouraged to prompt their school managements to act before the deadline. Failure to do so would require a fresh application for the 2025/2026 session.
NELFUND also disclosed that a significant number of applications remain unpaid or unapproved due to non-completion of verification by institutions. The Fund is currently engaging with such institutions to resolve these issues.
“In the interest of transparency, institutions that fail to comply by the stipulated deadline will be publicly named as non-compliant,” the statement added.
Regarding upkeep allowances, the Fund clarified that disbursements for the current academic session would continue until November 2025. However, students must reapply for the 2025/2026 session to remain eligible.
Since the scheme’s launch on 24 May 2024, over 510,000 students have benefitted from the Federal Government’s Student Loan Initiative, with a total of ₦99.5 billion disbursed.
READ ALSO: Beneficiaries to start repaying NELFUND loan 2 years after NYSC – Sawyerr
According to the Student Loan Disbursement Daily Status Report released on 27 September 2025, NELFUND has received 835,360 applications since inception, out of which 510,378 students have successfully accessed the interest-free loan facility.
