KEY POINTS
- NELFUND portal closes Tuesday for 2024/2025 cycle.
- Reopens October for 2025/2026, runs till January.
- ₦20,000 upkeep stipend continues through November.
The Nigerian Education Loan Fund (NELFUND) will shut its application portal for the 2024/2025 academic year on Tuesday, in a move aimed at clearing a backlog of applications and completing upkeep payments.
Managing Director Akintunde Sawyerr announced the deadline at a news conference in Abuja on Monday, saying the closure will allow the Fund to “conclude processing of pending applications and upkeep stipends.”
Fresh cycle begins in October
Sawyerr disclosed that the portal will reopen in the second week of October for 2025/2026 applications and remain open until January 2026. He said the timelines give “clarity for students, parents, and institutions to plan and participate fully.”
He said the agency gives students greater access to higher education through interest-free loans and makes sure no eligible applicant is left behind.
Warning to institutions
NELFUND told universities and polytechnics to update student records on its Student Verification System and warned it will automatically cancel all unverified 2024/2025 applications after October 8. Students affected will have to reapply for the new session.
Furthermore Sawyerr cautioned that institutions failing to comply risk being publicly listed.
Upkeep stipends and repayment terms
On upkeep, the MD confirmed that the ₦20,000 monthly stipend for the 2024/2025 cycle will continue until November, but stressed that students must reapply for 2025/2026 to remain eligible.
He reiterated that the loan remains interest-free, with repayment starting two years after completion of National Youth Service Corps. Employers must deduct 10 percent of beneficiaries’ salaries.
Rising tuition fees under review
Sawyerr further expressed concern over arbitrary hikes in tuition and ancillary fees by some institutions. He also said a ministerial committee is working with regulators to harmonise and standardise fee structures nationwide.
He said the government has no immediate plan to raise the stipend rate but is reviewing cost-of-living indices, a process that could bring regionally weighted adjustments in the future.
