WorldStage– The Nigerian Education Loan Fund (NELFUND) has announced a major milestone, disbursing a total of ₦154.37 billion in interest-free loans to 788,947 students across the country.
According to NELFUND, the feat is achieved within just 18 to 19 months of operation with the figure representing the successful processing of 62.3% of the 1,265,509 applications received as of December 9, 2025.
“Of the total disbursed funds, ₦82.35 billion was allocated to institutional fees, paid directly to 262 tertiary institutions on behalf of students to cover tuition and mandatory charges.
“An additional ₦72.02 billion was released directly to students as monthly upkeep allowances to support living expenses,” it disclosed.
NELFUND’s loan scheme is open to students in government-owned universities, polytechnics, colleges of education, and selected technical and nursing schools. Beneficiaries repay only the principal amount borrowed, with no interest charged.
Repayment begins two years after completing the mandatory one-year National Youth Service Corps (NYSC) program, provided the student has secured employment.
Applications are submitted through the official NELFUND Student Loan Portal and are typically processed within 30 days of approval.
The fund noted that delays in some applications are largely due to incomplete or irregular data submissions by students or delays in verification by institutions.
In December 2025, NELFUND also began releasing fresh tuition support for the 2025/2026 academic session, benefiting universities including Sokoto State University and Obafemi Awolowo University.
NELFUND’s rapid scale-up demonstrates the government’s ongoing commitment to making higher education more accessible and financially manageable for Nigerian students.
