As the Nigerian Education Loan Fund portal closes today (Friday), the scheme has recorded 1,696,316 applications from students nationwide since its launch on May 24, 2024.
According to the Fund’s latest Daily Status Report on its official X account, 983,706 students have benefited so far.
Applications continued to rise up to the final day, with a 0.8 per cent increase over the previous day, translating to 12,776 additional submissions.
On disbursement, NELFUND confirmed that N107,086,869,491 has been paid directly to 265 beneficiary institutions as institutional fees, while N76,798,940,000 has been disbursed to students as upkeep allowances.
In total, N183,885,809,491 has been released under the scheme as of February 1, 2026.
The Fund had earlier announced via its X account on February 25 that the student portal would close on February 27, urging prospective applicants to complete their submissions before the deadline.
“The NELFUND student portal will close on 27 February 2026. Please apply before it closes. Institutions that have not yet commenced the 2025 academic session should submit an official request for an extension, along with their approved academic calendar, for consideration,” the notice read.
In January, NELFUND extended the application deadline for the 2025/2026 academic session from January 31 to February 27, to give applicants more time to complete the process.
The Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, said the move reflected the Fund’s commitment to broad access.
“This extension reflects our commitment to inclusivity and access. We understand that some applicants may require additional time to complete their submissions, and this decision ensures that every eligible Nigerian student has a fair opportunity to benefit from the Fund,” Sawyerr said.
He urged students who had not yet applied or completed their applications to take advantage of the extended window and submit all required information before the deadline.
NELFUND was established to administer the Nigeria Student Loan Scheme, enacted into law by President Bola Tinubu in April 2024.
The initiative provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses.
Applications opened in May 2024 to remove financial barriers to higher education, particularly for students from low-income backgrounds.
Beneficiaries are required to repay the loans after completing their education and securing employment.