NELFUND Records 1.69m Applications, Pays Out N183.8bn Student Loans

The Nigeria Education Loan Fund (NELFUND) has recorded 1,696,316 applications from undergraduate students nationwide since its launch on May 24, 2024, as it closed application for the 2025/2026 session.

The Fund disclosed this in its Daily Status Report on its official X account, noting that 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.