The Nigerian Education Loan Fund (NELFUND) has announced that the student loan application portal for the 2024/2025 academic year will officially open on Saturday, February 22, 2025.
This follows the closure of the 2023/2024 application cycle, scheduled for Friday, February 21, 2025.
NELFUND Managing Director, Akintunde Sawyerr, disclosed this during a news conference in Abuja on Monday, February 17, where he confirmed the transition to a new application cycle.
“As part of our commitment to efficiency, transparency, and continuous improvement, we are here today to formally announce the closure of the 2023/2024 application cycle on our student loan portal. This marks a critical transition as we prepare to open the 2024/2025 application cycle. The 2023/2024 student loan application portal will close on February 21, 2025.
“We want to make sure that all applicants who have successfully submitted their applications before this deadline will be processed in line with our established guidelines. Our team remains committed to ensuring a fair and timely review of all pending applications,” Sawyerr stated.
He confirmed that the 2024/2025 application cycle would commence immediately after the closure of the previous cycle.
“I am pleased to announce that the 2024/2025 application cycle will officially commence on February 22, 2025. This transition is a necessary step to streamline our operations, align with the academic calendar, and enhance our ability to process applications efficiently,” he added.
Sawyerr disclosed that during the 2023/2024 cycle, NELFUND received a total of 364,042 applications over 229 days, averaging 1,000 applications per day.
“In just 220 days, we have received an impressive 364,042 applications with an average of 1,000 applications per day.
“I am proud to announce that over N22 billion has been disbursed to cover institutional fees across 240 institutions, directly benefiting 215,514 students,” he said.
In addition to covering tuition fees, NELFUND provided upkeep support to thousands of students during the 2023/2024 cycle.
He disclosed: “NELFUND has disbursed not less than N13 billion in upkeep support to 169,114 students, each receiving N20,000 monthly to assist with their living expenses.”
Sawyerr reaffirmed the agency’s commitment to efficiency and transparency, stating that the transition to the new application cycle represents continuous improvement of the student loan scheme.
He encouraged prospective applicants to begin preparations for the 2024/2025 cycle by collecting necessary documents and assured those who submitted applications on time that their submissions would be reviewed according to NELFUND’s guidelines.
“Our team remains committed to ensuring a fair and timely review of all pending applications.
“This transition is a necessary step to streamline our operations, align with the academic calendar, and enhance our ability to process applications efficiently.
“NELFUND remains dedicated to providing financial support to students, ensuring that no deserving individual is denied education due to financial constraints,” he stated.
Sawyerr also expxlained that the agency is updating its student database to ensure that only active students continue to receive support as the transition to the new application cycle begins.
The 2024/2025 cycle is expected to provide financial relief to thousands of students across the country, as NELFUND continues to play a key role in advancing access to higher education in Nigeria.
