The Nigerian Education Loan Fund (NELFUND) has shut its application portal for the 2024/2025 academic year, effective Tuesday.
Managing Director Akintunde Sawyerr said the closure will allow pending applications to be processed and upkeep payments maintained.
He announced that the portal will reopen in the second week of October for the 2025/2026 session and remain open until January 2026, giving students, parents, and institutions a clearer planning window.
Sawyerr directed schools to update student records on the Student Verification System to ensure access.
He warned that unverified applications from 2024/2025 would be cancelled after October 8, requiring affected students to reapply for the new session.
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He cautioned institutions against non-compliance, noting that those failing to verify records risk being publicly listed.
On upkeep stipends, Sawyerr confirmed that payments for the current session will continue until November, but students must reapply under the new cycle to sustain support.
He restated that the loan scheme is interest-free, with repayment beginning two years after the National Youth Service Corps, through employer deductions of 10 percent of salaries.
Sawyerr also expressed concern about rising tuition fees and said a committee set up by the Minister of Education is working with regulators to standardise charges across schools.
The ₦20,000 monthly upkeep allowance will remain unchanged for now, though reviews tied to cost of living could prompt adjustments later.
