The Nigerian Education Loan Fund (NELFUND) has closed its application portal for the 2024/2025 academic session, effective Tuesday.
The agency said the closure marks the completion of its second full cycle and will allow it to process pending applications and upkeep payments.
In a statement issued on Monday by its Director of Strategic Communications, Oseyemi Oluwatuyi, NELFUND announced that the next round of applications will open in the second week of October 2025 and run until January 2026 for the 2025/2026 academic session.
“All applications for the 2024/2025 academic session that remain unverified by institutions after October 8, 2025, will be automatically cancelled,” the statement said.
The Fund urged schools to promptly update students’ records on the Student Verification System to enable eligible applicants to participate. Institutions yet to begin a new academic session within the window were advised to notify NELFUND for possible concessions.
Students whose schools fail to verify their applications will have to reapply for the 2025/2026 cycle.
Oluwatuyi added, “NELFUND is actively engaging with such institutions to resolve the delays. However, institutions that fail to comply by the stipulated deadline should note that the Fund will publish the names of all non-compliant institutions for transparency.”
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On upkeep allowances, the Fund explained that payments for the 2024/2025 session will continue until November 2025. However, students must reapply to remain eligible in the new academic year.
Since its launch on May 24, 2024, the Federal Government’s Student Loan Initiative has disbursed N99.5 billion to more than 510,000 students.
According to the Student Loan Disbursement Daily Status Report of September 27, 2025, NELFUND has received 835,360 applications, out of which 510,378 students have successfully accessed the interest-free facility.