The Nigerian Education Loan Fund (NELFUND) will shut its application portal for the 2024/2025 academic session on September 30, Managing Director Akintunde Sawyerr announced Monday in Abuja.
He said the closure would allow the agency to process pending requests and complete upkeep payments for current beneficiaries. The portal will reopen in mid-October for the 2025/2026 session and remain open until January 2026, giving students a three-month window to apply.
Sawyerr warned that all unverified applications will be cancelled after October 8. He directed institutions to update student records on the Student Verification System (SVS) or risk being publicly listed for non-compliance.
Upkeep stipends of ₦20,000 per month will continue through November, but recipients must reapply for the new session to keep receiving payments. Loan repayment remains interest-free, with deductions beginning two years after NYSC service.
Since its launch in May 2024, the fund has processed 839,465 applications, disbursing ₦107.6 billion to 581,878 students across 231 institutions, according to its daily disbursement report.
