The Nigerian Education Loan Fund (NELFUND) says it has disbursed ₦116.4 billion to student beneficiaries under the federal government’s interest-free loan scheme aimed at easing access to higher education for students from low-income families.
According to NELFUND’s Daily Status Report shared on its official X handle on Tuesday, October 28, 2025, the fund has received 929,805 applications since the programme’s portal opened on May 24, 2024. Out of these, 624,535 students have successfully benefited from the initiative.
The latest update shows 12,398 new approvals, marking a 1.4% increase from the previous day. So far, NELFUND has disbursed ₦65.3 billion directly to 239 tertiary institutions to settle tuition fees, while an additional ₦51.1 billion has been paid as upkeep allowances to students.
Application Opens for 2025/2026 Session
The agency also announced the opening of its application portal for the 2025/2026 academic session, which runs from Thursday, October 23, 2025, to Saturday, January 31, 2026.
In a statement, NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, urged fresh students to apply using their Admission Number or JAMB Registration Number in place of a matriculation number.
Driving Educational Access and Equity
Established under the Nigeria Student Loan Scheme, signed into law by President Bola Tinubu in April 2024, NELFUND provides interest-free loans to students in public universities, polytechnics, and colleges of education. The programme covers both tuition and living expenses, with repayment expected to commence after graduation and employment.
Oluwatuyi noted that the initiative aims to eliminate financial barriers that hinder students from completing their education, while promoting sustainability through a structured repayment system.
“NELFUND remains committed to ensuring no qualified Nigerian student is denied education due to financial constraints,” he said.
The fund’s latest figures reflect growing public confidence in the scheme, which has quickly become one of the federal government’s most impactful education-support interventions.
