The Nigerian Education Loan Fund (NELFUND) has announced that its application portal for the 2025/2026 academic session will reopen in the second week of October 2025. The portal will remain open until January 2026, providing a three-month window for new applications. This follows the closure of the 2024/2025 session on September 30, 2025, to finalize processing and upkeep payments, as stated by NELFUND’s Managing Director, Akintunde Sawyerr, during a press conference in Abuja on Monday.
Sawyerr emphasized NELFUND’s commitment to eliminating financial barriers for students and urged institutions to update student records on the Student Verification System (SVS) to facilitate access to the loan scheme. He warned that unverified applications for 2024/2025 will be canceled after October 8, 2025, requiring affected students to reapply for the new session. Institutions failing to update records risk being publicly listed for non-compliance.
Upkeep stipends for the 2024/2025 session will continue until November 2025, with students required to reapply for 2025/2026 to maintain eligibility. The loan scheme remains interest-free, with repayment starting two years post-NYSC, deducted at 10% of beneficiaries’ salaries by employers.
Sawyerr also addressed concerns about rising tuition and ancillary fees, noting that a committee under the Minister of Education is working to standardize fee structures. The current ₦20,000 monthly upkeep stipend will not increase immediately, though future adjustments may be considered based on a cost-of-living review.
According to NELFUND’s latest report, 839,465 applications have been received since the portal’s launch on May 24, 2024, with 581,878 students benefiting. As of September 26, 2025, ₦107.6 billion has been disbursed, including ₦61.3 billion for institutional fees and ₦46.3 billion for upkeep allowances, benefiting 231 institutions.
