NELFund Closes 2023-2024 Application Cycle, Opens 2025 Portal
The National Education Loan Fund (NELFund) has announced the closure of its application cycle for the 2023-2024 academic year and the opening of the 2024-2025 application portal.
Managing Director and CEO of NELFund, Mr. Akintunde Oluwole Sawyerr, made the announcement during a press briefing in Abuja on Monday.
Sawyerr revealed that the 2023/2024 application portal will close on February 21, 2025, and the new application cycle for 2024/2025 will open on February 22, 2025.
He also highlighted that NELFund has received a total of 364,042 applications over 220 days, disbursing more than ₦35 billion in institutional fees and upkeep support, benefiting over 380,000 students.
“We have processed an impressive 364,042 applications in just 220 days, averaging 1,000 applications daily. I’m proud to announce that ₦22,736,960,971 has been disbursed for institutional fees across 240 institutions, directly benefiting 215,514 students. Additionally, ₦12,818,960,000 has been provided as upkeep support to 169,114 students, each receiving ₦20,000 monthly for their living expenses,” he said.
The NELFund CEO emphasized the organization’s commitment to transparency, fairness, and efficiency in processing applications. He assured applicants that those who submit their applications before the February 21 deadline will have their applications processed according to established guidelines.
“We are committed to ensuring fair and timely processing of all pending applications. Our team will continue to work diligently to review each application as part of our ongoing efforts to streamline operations and improve service delivery,” he added.
Looking ahead, Sawyerr noted that the Fund is updating its student database to ensure that only active students receive support as the 2024-2025 academic session approaches. He also addressed concerns about delays in processing applications, attributing the issue to slow responses from institutions verifying students’ information. This verification process affects both institutional fee payments and upkeep support, which is typically paid a week or two after the institutional fees are confirmed.
The 2024/2025 application cycle will open on February 22, 2025, and NELFund remains committed to supporting Nigerian students in achieving their educational goals.
