NELFUND Closes 2024/2025 Student Loan Portal, Opens 2025/2026 Applications in October

The Nigerian Education Loan Fund (NELFUND) has confirmed that its application portal for the 2024/2025 academic session officially closes today, September 30, 2025, bringing its second full loan cycle to an end. The Fund explained that the closure is necessary to wrap up outstanding applications and continue disbursing upkeep payments to students who have already been approved.

In a statement signed by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND provided timelines for the 2025/2026 loan cycle and urged both students and institutions to comply strictly with all requirements. According to the statement, the new application portal will open in the second week of October 2025 and remain accessible until January 2026. Institutions have been directed to promptly update student records on the Student Verification System to enable applicants to complete their submissions.

Applications from the 2024/2025 session that remain unverified by October 8, 2025, will be automatically cancelled. NELFUND also warned that it would publish the names of institutions that fail to comply with verification processes, stressing that such delays prevent students from benefiting from the scheme. Disbursement of upkeep allowances for the 2024/2025 cycle will, however, continue until November 2025, though beneficiaries are required to reapply under the 2025/2026 cycle to remain eligible.

Speaking on the development, NELFUND Managing Director and Chief Executive, Mr. Akintunde Sawyerr, described the closure of the current application portal as a necessary step to ensure a seamless transition into the new academic year. He reaffirmed that the Fund remains committed to eliminating financial obstacles for students and will continue to collaborate with institutions to make sure no eligible student is left behind. Sawyerr also emphasized that timely compliance by schools remains critical to avoid disruptions and assured that NELFUND is focused on delivering interest-free loans that support equitable access to higher education across Nigeria.