The Nigerian Education Loan Fund has announced the closure of its application portal for the 2024/2025 academic session, effective September 30, 2025.
This move marks the end of the second full cycle of the scheme, allowing NELFUND to finalize processing of pending applications and upkeep payments.
According to NELFUND’s Managing Director, Akintunde Sawyerr, the portal will reopen in the second week of October 2025 for fresh applications into the 2025/2026 academic session and remain open until January 2026. Sawyerr urged schools to promptly update their students’ records, stressing that verification is key to accessing the interest-free loan.
The closure of the portal is a necessary step to prepare for the next cycle, Sawyerr said. “Announcing the closure of the current application portal is a necessary step to prepare for the next cycle,” he stated. NELFUND remains committed to removing financial barriers for students and working with institutions to ensure that no eligible student is left behind.
Institutions have been directed to update their students’ records on the Student Verification System to enable eligible students to apply. NELFUND warned that all unverified applications for the 2024/2025 session will be automatically cancelled after October 8, 2025. Affected students will be required to submit fresh applications for the 2025/2026 academic year.
On upkeep payments, Sawyerr explained that disbursements for the 2024/2025 session will continue until November 2025. However, students must reapply for the 2025/2026 academic session to continue receiving support. The loan scheme is interest-free, with repayment starting two years after completion of the National Youth Service Corps.
Employers are required to deduct 10% of beneficiaries’ salaries to offset the loan. Sawyerr also expressed concern over arbitrary hikes in tuition and ancillary fees by some institutions, noting that a committee set up by the Minister of Education is working with regulators to standardize fee structures across institutions.
The current ₦20,000 monthly upkeep allowance will remain unchanged for now, though ongoing cost-of-living reviews could lead to adjustments in the future. NELFUND encourages 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.
