NELFUND: 2024/2025 Academic Session Application Portal Closes September 30 – Key Deadlines & Updates

The Nigerian Education Loan Fund (NELFUND) has announced that its application portal for the 2024/2025 academic session will officially close on Tuesday, September 30, 2025.

According to NELFUND’s Managing Director, Mr. Akintunde Sawyerr, the closure will allow the Fund to finalize the processing of pending student loan applications and ensure timely disbursement of upkeep stipends.

🔑 Key Updates for Students & Institutions:

• Portal Reopening: The loan portal will reopen in the second week of October 2025 for new applications and remain open until January 2026.

• Unverified Applications: All unverified applications for 2024/2025 will be automatically cancelled after October 8. Affected students must reapply under the 2025/2026 session.

• Institutional Compliance: Any institution that fails to verify students’ records on the Student Verification System (SVS) risks being publicly listed for non-compliance.

• Upkeep Payments: Upkeep stipends for the 2024/2025 session will continue until November 2025. Students must reapply for the 2025/2026 cycle to maintain payments.

📌 NELFUND’s Commitment to Students

Mr. Sawyerr emphasized NELFUND’s mission to remove financial barriers to higher education by providing interest-free student loans. Repayment begins two years after completion of the National Youth Service Corps (NYSC), with employers mandated to deduct 10% of beneficiaries’ salaries.

He also reassured students and parents:

“NELFUND remains committed to ensuring that no eligible student is left behind. These timelines provide clarity for students, parents, and institutions to plan ahead and participate fully in the process.”

⚠️ Rising Tuition Fees Under Review

The MD raised concerns over arbitrary hikes in tuition and ancillary fees by some institutions. A committee set up by the Minister of Education is currently working with regulators to harmonize and standardize tuition structures across the country.

💰 Monthly Upkeep Allowance

On upkeep stipends, Sawyerr confirmed that the ₦20,000 monthly allowance will remain unchanged for now. However, he noted that ongoing reviews of cost-of-living indices across regions may lead to adjusted allowances in future sessions.

✅ What This Means for Students

• Submit or finalize your 2024/2025 NELFUND loan application before September 30.

• Ensure your institution verifies your records on the SVS platform.

• If your application remains unverified by October 8, prepare to reapply for 2025/2026.

• Expect upkeep stipends to continue until November, after which you must reapply for continued support.