ABUJA, Nigeria (VOICE OF NAIJA)-As the application portal of the Nigerian Education Loan Fund closes today (Friday), the scheme has received a total of 1,696,316 applications from students across the country since it was launched on May 24, 2024.
According to the Fund’s latest Daily Status Report published on its official X account, 983,706 students have benefited from the programme to date.
Application figures continued to climb up to the final day, recording a 0.8 per cent increase from the previous day, which amounted to 12,776 new applications.
On disbursements, NELFUND disclosed that N107,086,869,491 has been paid directly to 265 beneficiary institutions as tuition fees, while N76,798,940,000 has been released to students as upkeep allowances.
Overall, a total of N183,885,809,491 had been disbursed under the scheme as of February 1, 2026.
READ ALSO:Student Loan Disbursements Hit N161.97bn- NELFUND
Earlier, on February 25, the Fund announced on its X account that the student application portal would shut on February 27, advising intending applicants to finalise 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 stated.
In January, NELFUND had extended the deadline for applications for the 2025/2026 academic session from January 31 to February 27 to allow more time for students to complete the process.
Speaking on the extension, the Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, said the decision was driven by the Fund’s focus on widening 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 encouraged students who were yet to apply or complete their applications to utilise the extended period and ensure all required details were submitted before the portal closed.
NELFUND was created to manage the Nigeria Student Loan Scheme, which was signed into law by Bola Tinubu in April 2024. The programme offers interest-free loans to students in public tertiary institutions to cover tuition and living costs.
Applications officially opened in May 2024 as part of efforts to reduce financial obstacles to higher education, particularly for students from low-income households. Beneficiaries are expected to repay the loans after completing their studies and securing employment.