The Nigerian Education Loan Fund (NELFUND), has announced that over ₦116.4 billion has been disbursed to beneficiaries of its student loan scheme since the application portal opened on May 24, 2024.
Daily Status Report released on Tuesday, October 28, 2025, via its official X handle, NELFUND said “it had received a total of 929,805 applications, out of which 624,535 students have benefited from the programme.”
The report showed that 12,398 new successful applications were recorded, representing a 1.4% increase in new applications compared to the previous day.
As of October 9, 2025, NELFUND disclosed that ₦65.3 billion had been paid to 239 institutions as tuition fees, while another ₦51.1 billion was disbursed as upkeep allowances to students bringing total disbursements to ₦116.4 billion.
The agency announced that the application window will remain open from Thursday, October 23, 2025, to Saturday, January 31, 2026.
It also urged fresh students to apply using their Admission Number or JAMB Registration Number in place of a matriculation number.
Established to implement the Nigeria Student Loan Scheme signed into law by President Bola Tinubu in April 2024, NELFUND provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses.
The initiative aims to remove financial barriers to education and support students from low-income families. Beneficiaries are expected to start repaying their loans after completing their studies and obtaining employment, in line with the terms set by NELFUND.
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