The Nigerian Education Loan Fund (NELFUND) says it has disbursed more than ₦116.4 billion to beneficiaries under its student loan scheme since the launch of the application portal on May 24, 2024.
According to the Daily Status Report released on Tuesday, October 28, 2025, on its official X handle, the agency said it has received a total of 929,805 applications, out of which 624,535 students have so far benefited from the programme.
The report also showed that 12,398 new successful applications were recorded, representing a 1.4 per cent increase in new approvals from the previous day.
NELFUND disclosed that as of October 9, 2025, ₦65.3 billion has been paid to 239 tertiary institutions as tuition fees, while ₦51.1 billion has been released to students as upkeep allowances, bringing total disbursement to ₦116.4 billion.
The agency, in a statement signed by its Director of Strategic Communications, Oseyemi Oluwatuyi, announced that the application window for the 2025/2026 academic session will run from Thursday, October 23, 2025, to Saturday, January 31, 2026. It advised newly admitted students to apply using their Admission Number or JAMB Registration Number where a matriculation number is not yet issued.
Signed into law by President Bola Ahmed Tinubu in April 2024, the student loan scheme provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses. Beneficiaries are expected to begin repayment after completing their studies and securing employment.
