NELFUND Students Loan Portal Will be Re-open For Application
The Nigerian Education Loan Fund (NELFUND) has announced that the 2024/2025 student loan application portal will open on Saturday, February 22, 2025, following the closure of the 2023/2024 application cycle on Friday, February 21.
NELFUND’s Managing Director, Akintunde Sawyerr, made this known at a press conference in Abuja on Monday, February 17, emphasizing the agency’s commitment to efficiency and transparency in processing student loans.
According to him, the 2023/2024 loan cycle recorded 364,042 applications over 229 days, with an average of 1,000 applications daily. Out of these, over N22 billion has been disbursed to 240 institutions, benefiting 215,514 students. Additionally, N13 billion in upkeep allowances has been distributed to 169,114 students, with each receiving N20,000 monthly to assist with living expenses.
He reassured applicants who submitted their requests before the February 21 deadline that their applications would be reviewed and processed according to established guidelines. He also encouraged prospective applicants for the 2024/2025 session to start preparing their documents ahead of the new cycle.
Sawyerr acknowledged that delays in processing applications were largely due to tertiary institutions’ slow verification of student information, which affects the timely disbursement of institutional fees and upkeep allowances. He explained that upkeep payments could only be made after confirming institutional fees, leading to a one- to two-week delay between the two payments.
Despite these challenges, he assured that NELFUND remains committed to ensuring no eligible student is denied financial aid due to delays or inefficiencies. He further stated that the agency is updating its student database to ensure that only active students receive support, aligning with efforts to improve the system as it transitions into the 2024/2025 academic session.
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