NELFUND to Close 2023/2024 Student Loan Applications Feb. 21
The Nigerian Education Loan Fund (NELFUND) has announced that the 2023/2024 student loan application cycle will close on Feb. 21, with the 2024/2025 cycle set to commence on Feb. 22.
Managing Director of NELFUND, Akintunde Sawyerr, disclosed this during a news conference in Abuja on Monday, emphasizing the organization’s commitment to efficiency, transparency, and continuous improvement in loan disbursement.
“In 220 days, we have received 364,042 applications, averaging 1,000 applications daily,” Sawyerr said. “So far, N22.7 billion has been disbursed to cover institutional fees across 150 institutions, benefiting 215,514 students.”
Additionally, N12.8 billion has been allocated for upkeep support, with 169,114 students receiving N20,000 monthly for living expenses.
Sawyerr reassured applicants who submitted before the deadline that their applications would be processed in line with the fund’s guidelines. He noted that the transition to a new cycle would streamline operations, align with the academic calendar, and improve application processing.
