The Nigerian Education Loan Fund (NELFUND) has announced that the application portal for the 2024/2025 academic session will officially close on Tuesday, October 8, 2025.
According to an update posted on its official X (formerly Twitter) handle, the decision was taken to allow the agency conclude the processing of pending applications and upkeep stipend payments.
New timelines for 2025/2026 session
NELFUND revealed that the loan portal will reopen in the second week of October 2025 for fresh applications into the 2025/2026 academic session and remain open until January 2026.
The agency emphasized that the move is part of efforts to expand access to higher education by providing interest-free loans to students.
“NELFUND remains committed to removing financial barriers for students and working with institutions to ensure that no eligible student is left behind. These timelines provide clarity for students, parents, and institutions to plan and participate fully in the process,” the statement read.
Institutions directed to verify students’ records
Confirming the update in Abuja, NELFUND’s Managing Director, Akintunde Sawyerr, directed institutions to update students’ details on the Student Verification System (SVS) to enable smooth access to the loan scheme.
He added that all unverified applications for 2024/2025 would be automatically cancelled after October 8, and affected students must reapply under the new session.
Sawyer also cautioned that institutions failing to comply with the verification exercise risk being publicly listed for non-compliance.
Upkeep stipend and repayment terms
On upkeep stipends, the MD explained that payments for the 2024/2025 session would continue until November 2025, while students would need to reapply to continue receiving stipends for 2025/2026.
He clarified that the ₦20,000 monthly allowance for upkeep would not be increased immediately.
On repayment terms, Sawyerr reiterated that the scheme remains interest-free, with repayment beginning two years after completion of the National Youth Service Corps (NYSC). Employers will be mandated to deduct 10% of beneficiaries’ salaries as repayment.
