Abuja, Nigeria – The Nigerian Education Loan Fund (NELFUND) has officially announced that the student loan application portal for the 2024/2025 academic session will open on Saturday, February 22, 2025. This follows the closure of the 2023/2024 application cycle on Friday, February 21, 2025.
Highlights from the 2023/2024 Cycle
During a press conference held on Monday, February 17, 2025, in Abuja, NELFUND Managing Director Akintunde Sawyerr disclosed that the 2023/2024 application cycle received an impressive 364,042 applications over 220 days, averaging 1,000 applications per day.
From these applications:
- Over N22 billion was disbursed to cover institutional fees across 240 institutions, directly benefiting 215,514 students.
- An additional N13 billion was provided in upkeep support to 169,114 students, each receiving N20,000 monthly to assist with living expenses.
What to Expect for the 2024/2025 Cycle
The transition to the 2024/2025 application cycle is part of NELFUND’s commitment to efficiency, transparency, and continuous improvement. Prospective applicants are encouraged to begin preparing by gathering the necessary documents.
Eligibility and Application Process:
- Students must be enrolled in accredited public universities, polytechnics, colleges of education, or vocational institutions.
- Applications will be submitted online through the official NELFUND portal, accessible from February 22, 2025.
- Applicants must provide proof of financial need and meet the academic performance requirements set by NELFUND.
Government’s Commitment to Educational Funding
The Nigerian government remains dedicated to ensuring financial constraints do not hinder students’ academic progress. The student loan scheme is designed to be interest-free, with flexible repayment terms that begin after graduates secure employment.
How to Apply
Students interested in applying can follow these steps:
- Visit the official NELFUND website on or after February 22, 2025.
- Create an account and provide the required personal and academic details.
- Upload necessary documents, including proof of admission and financial need.
- Submit the application and await confirmation.
NELFUND has assured applicants of a transparent and efficient selection process, with approvals granted based on merit and demonstrated financial need.
Impact and Expectations
With the reopening of student loan applications, thousands of Nigerian students will have access to financial assistance, promoting educational equity and fostering national development. The government encourages all eligible students to take advantage of this opportunity to secure funding for their education.
For further information, students are advised to visit the NELFUND official website or contact their institution’s financial aid office.
Stay tuned for more updates on educational funding and opportunities in Nigeria.
Please what of private University Nigeria did they have access to these loan?
Can a candidate who applied for the last year own still register for this year too