The Nigerian Education Loan Fund (NELFUND) has announced that its application portal for the 2024/2025 academic session will close on Tuesday, September 30, 2025.
Managing Director of NELFUND, Akintunde Sawyerr, made the disclosure at a press conference in Abuja on Monday.
He explained that the closure would allow the Fund to complete the processing of pending applications and ensure timely disbursement of upkeep stipends to beneficiaries.
New Application Timelines
Sawyerr revealed that the portal will reopen in the second week of October 2025 for the 2025/2026 academic session and will remain accessible until January 2026. This provides students a three-month window to submit applications.
“NELFUND remains committed to eliminating financial barriers for students. With these timelines, students, parents, and institutions can plan effectively and participate fully in the scheme, ensuring no eligible student is left behind,” he stated.
He directed all institutions to update student records on the Student Verification System (SVS) to enable seamless access to the loan scheme.
According to him, unverified applications for the 2024/2025 session will be automatically cancelled after October 8, 2025, and affected students will have to reapply under the new academic session. Institutions that fail to comply risk being publicly listed for non-compliance.
Upkeep Stipends
On upkeep stipends, Sawyerr announced that the ₦20,000 monthly allowance for the 2024/2025 session would continue until November 2025. However, students must reapply under the 2025/2026 session to continue receiving support.
While the stipend amount will not be increased immediately, Sawyerr disclosed that an ongoing review of cost-of-living indices across regions could lead to adjusted payments in future.
Loan Repayment and Accountability
Reaffirming that the loan remains interest-free, the NELFUND boss explained that repayment will commence two years after completing the National Youth Service Corps (NYSC).
Employers will be legally mandated to deduct 10% of beneficiaries’ salaries until the loan is fully repaid.
Sawyerr also expressed concern over what he described as arbitrary increases in tuition and related fees by some institutions.
He revealed that a Ministerial Committee, in collaboration with regulators, is working to harmonise and standardise fee structures across universities and polytechnics.
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