The National Education Loan Fund (NELFund) has announced that the 2023-2024 application cycle would be closed on Friday, February 21st.
Managing Director and Chief Executive Officer of NELFUND, Mr. Akintunde Oluwole Sawyerr, disclosed this at a press briefing in Abuja on Monday.
He stated that the 2023/2024 portal will close on February 21, 2025, and the 2024/2025 cycle will open the following day on on February 22, 2025.
He also disclosed that NELFUND received 364,042 applications in over 220 days, disbursing over ₦35 billion in institutional fees and upkeep support, benefiting more than 380,000 students.
The NELFund Boss emphasised the importance of efficiency, transparency, and fair processing of applications.
He further expressed gratitude to partners and stakeholders and pledged the Fund’s commitment to supporting Nigerian students’ educational goals.
“The 2023/2024 student loan application portal will officially close on February 21, 2025. We want to reassure all applicants who have successfully submitted their applications before this deadline that their applications will be processed in line with our established guidelines. Our team remains committed to ensuring a fair and timely review of all pending applications.
“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 said.
The NELFund Boss also revealed that the agency was updating its student database to ensure only active students receive support, with a focus on moving into the 2024-2025 academic session.
He said the pace in processing application was slow due to slow responses from institutions verifying students’ information, which affects the payment of institutional fees and upkeep.
Furthermore, he noted that upkeep payments are made only after institutional fees are confirmed, with a gap of a week or two between the two payments.
