NELFUND Closes 2024/2025 Loan Portal and Announces Timeline for Next Application

NELFUND closes the 2024/2025 loan portal and announces new application timelines for 2025/2026. Learn how to prepare and reapply for interest-free student loans.

What Students Need to Know

The Nigerian Education Loan Fund (NELFUND) has officially closed its loan portal for the 2024/2025 academic session, marking the end of applications for this cycle. This move is designed to allow the agency to finalize pending applications and process upkeep stipends for current beneficiaries.

For students planning to apply in the next session, NELFUND has also released a clear timeline for the 2025/2026 academic year, ensuring transparency and allowing parents, institutions, and students to prepare in advance.

Why Did NELFUND Close the Loan Portal?

According to NELFUND Managing Director Akintunde Sawyerr, the decision was made to:

Conclude processing of pending student loan applications.
Finalize upkeep stipend payments for the ongoing academic year.
Provide institutions time to verify student records.

This structured closure ensures no eligible student is left behind while also upholding accountability across institutions.

NELFUND 2025/2026 Loan Application Timeline

NELFUND has confirmed that the loan application portal will reopen in the second week of October 2025 and remain open until January 2026.

This provides a three-month window for new and returning applicants to complete their registration. The Fund emphasized its commitment to expanding access to higher education through interest-free loans that remove financial barriers for students.

Key Directives for Institutions and Students

To ensure smooth processing of applications, NELFUND issued the following directives:

Institutional Record Updates – Universities, polytechnics, and colleges must update students’ records on the Student Verification System (SVS). Failure to comply could lead to public listing for non-compliance.
Unverified Applications – All unverified applications for 2024/2025 will be automatically canceled after October 8, 2025. Students affected must reapply under the new academic cycle.
Upkeep Payments – Payments for the current 2024/2025 session will continue until November 2025. However, students must reapply for the next cycle to continue receiving upkeep stipends.

Loan Repayment: What Beneficiaries Should Expect

Sawyerr reiterated that the NELFUND loan remains interest-free. Repayment begins two years after completing the National Youth Service Corps (NYSC).

Employers will be legally required to deduct 10% of beneficiaries’ salaries monthly to service the loans. This model ensures accountability while making repayment manageable for graduates entering the workforce.

Tuition Fee Concerns and Government Action

NELFUND also addressed concerns about arbitrary increases in tuition and ancillary fees by institutions. According to Sawyerr, a committee set up by the Federal Ministry of Education is working with regulators to harmonize and standardize tuition fees nationwide.

While upkeep stipends currently stand at ₦20,000 per month, the Fund is reviewing cost-of-living indices across regions. This may lead to future adjustments in stipend amounts depending on economic conditions.

Why This Matters for Students

The closure of the 2024/2025 loan portal and the announcement of the new application cycle highlights NELFUND’s long-term commitment to:

Making higher education affordable in Nigeria.
Providing interest-free student loans to reduce financial stress.
Ensuring a transparent and structured application process.

For students, this means better planning, easier access to funding, and clearer repayment expectations.

How to Stay Updated on NELFUND Loan Applications

Students are encouraged to monitor official updates through the NELFUND website and trusted education portals like Punch Education News and Premium Times Education.

Regularly checking these platforms ensures you don’t miss critical deadlines or announcements.

If you are planning to apply for the 2025/2026 NELFUND loan, start preparing now. Ensure your institution updates your records, and mark October 2025 on your calendar as the reopening date for fresh applications.

For official updates, visit the NELFUND portal and follow announcements directly from the Federal Ministry of Education.

NELFUND’s decision to close the 2024/2025 portal and announce a structured timeline for the 2025/2026 session reflects its dedication to fairness, transparency, and accessibility. By removing financial barriers through interest-free loans, NELFUND continues to empower thousands of Nigerian students in their pursuit of higher education.

Don’t wait until the last minute—prepare now and stay updated on the official NELFUND channels to secure your student loan.