The Nigerian Education Loan Fund (NELFUND) has announced the closure of its application portal for the 2024/2025 academic session, effective today, September 30, 2025.
According to NELFUND’s Managing Director, Akintunde Sawyerr, the closure marks the conclusion of its second full cycle, allowing the Fund to finalize processing pending applications and upkeep payments.
The portal for the 2025/2026 academic session will open in the second week of October 2025 and remain accessible until January 2026. Sawyerr emphasized the importance of institutional compliance, noting that prompt updates on the Student Verification System (SVS) are critical to ensuring students access the loan scheme without disruptions.
“NELFUND remains committed to removing financial barriers for students and working with institutions to ensure that no eligible student is left behind,” Sawyerr said. He also warned that institutions failing to verify student records risk being publicly listed for non-compliance.
NELFUND has disbursed N99.5 billion to over 510,000 students since the scheme’s launch on May 24, 2024. The Fund urges students to liaise closely with their institutions, complete their applications on time, and reapply promptly for the 2025/2026 session to avoid missing out on the benefits of the scheme.
The managing director expressed concern over arbitrary hikes in tuition and ancillary fees by some institutions. A committee set up by the Minister of Education is working with regulators to harmonize and standardize fee structures nationwide.
NELFUND’s loan scheme remains interest-free, with repayment starting two years after completion of the National Youth Service Corps (NYSC). Employers will deduct 10% of beneficiaries’ salaries to offset the loan.
