Student loan: NELFund ends 2023/2024 applications, open 2024/2025 portal

• received 364,042 applications, disbursed N22bn in 2024 cycle

From Fred Ezeh, Abuja

Nigerian Education Loan Fund (NELFund) has announced the end to its 2023/2024 loan application window for students, and subsequently announced the opening for 2024/2025 application window for interested students.

NELFund Managing Director, Mr. Akintunde Sawyerr, told journalists at a press conference, in Abuja, on Monday, that the 2023/2024 witnessed impressive participation of candidates, perhaps, due to sustained enlightenment across institutions nationwide.

He disclosed that in the 2023/2024 window (220 days), the Fund received an impressive 364,042 applications with an average of 1,000 applications per day, and that N22.7bn was disbursed to cover institutional fees across 240 institutions, directly benefiting 215,514 students.

He said: “Furthermore, a total of N12.8bn has been disbursed as upkeep support, reaching 169,114 students, each receiving N20,000 monthly to assist with their living expenses. This is part of our commitment to efficiency, transparency, and continuous improvement. The end of 2023/2024 application cycle marks a critical transition as we prepare to open the 2024/2025 application cycle.”

He, however, assured all applicants who successfully submitted their applications
before the 2023/2024 deadline (February 21st, 2025) that their applications will be processed in line with the established guidelines.

The NELFund boss further confirmed that the 2024/2025 application cycle will officially commence on February 22, 2025, and it will be a transition and necessary step to streamline the operations of NELFund, align it with the academic calendar, and enhance the ability to process applications, efficiently.

He encouraged all prospective applicants to begin preparations by gathering the necessary documentation and ensuring they meet the eligibility criteria as outlined on the NELFund portal. The goal is to create a seamless experience for students applying for the loan.

He added: “At NELFUND, we remain unwavering in our commitment to transparency, accountability, and fairness. We assure all stakeholders that every application received within the stipulated time frame will be treated with diligence and impartiality.

“Our objective is to maintain the integrity of this program, while supporting as many students as possible in achieving their educational aspirations,” he said.