NELFUND To Close 2023/2024 Student Loan Applications, Opens New Cycle on 22 February.
The Nigerian Education Loan Fund (NELFUND) has announced that the application cycle for the 2023/2024 student loan programme will close on 21 February, with the 2024/2025 cycle set to begin on 22 February.
Managing Director of NELFUND, Akintunde Sawyerr, disclosed this during a press conference in Abuja on Monday, emphasising the organisation’s dedication to efficiency, transparency, and continuous improvement in supporting students.
“NELFUND remains committed to providing financial assistance to students, ensuring that no deserving individual is denied access to education due to financial constraints,” Sawyerr stated.
He revealed that in just 220 days, the fund had received 364,042 applications, averaging 1,000 applications per day. So far, a total of N22.7 billion has been disbursed to cover institutional fees across 150 institutions, directly benefiting 215,514 students. Additionally, N12.8 billion has been provided as upkeep support, assisting 169,114 students, each receiving N20,000 per month for living expenses.
Sawyerr reassured applicants who had successfully submitted their forms before the deadline that their applications would be processed in line with NELFUND’s established guidelines.
“Our team remains committed to ensuring a fair and timely review of all pending applications. This transition is a necessary step to streamline our operations, align with the academic calendar, and enhance our ability to process applications efficiently,” he added.
As the new application cycle opens, NELFUND continues to play a vital role in reducing financial barriers to education, offering crucial support to thousands of Nigerian students.
