NELFUND closes 2024/2025 loan portal, opens new cycle in October

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, marking the end of the scheme’s second full cycle.

In a statement issued on Monday in Abuja by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications, the Fund said the closure will allow it to finalize pending applications and continue upkeep payments for beneficiaries.

NELFUND also unveiled timelines for the new cycle, with the portal set to reopen in the second week of October 2025 for fresh applications into the 2025/2026 academic session.

The application window will remain open until January 2026.

The Fund directed institutions to promptly update students’ records on the Student Verification System (SVS) to enable smooth processing of applications.

It warned that all unverified applications for the 2024/2025 session will be automatically cancelled after October 8, 2025, urging affected students to ensure their schools complete the verification process before the deadline.

Students whose applications remain unapproved or unpaid were advised that the delay stems from their institutions’ failure to verify student lists.

NELFUND said it was engaging the affected institutions but cautioned that non-compliant schools risk public naming for transparency.

Meanwhile, upkeep payments for the 2024/2025 session will continue until November 2025, but beneficiaries must reapply for the 2025/2026 session to remain eligible.

NELFUND Managing Director/Chief Executive, Mr. Akintunde Sawyerr, said the move was aimed at ensuring efficiency and access for all eligible students.

“Announcing the closure of the current application portal is a necessary step to prepare for the next cycle. NELFUND remains committed to removing financial barriers for students and working with institutions to ensure that no eligible student is left behind,” he stated.

The Fund encouraged students to liaise closely with their institutions, complete their applications on time, and take advantage of the upcoming cycle to benefit from its interest-free student loans.