The Nigerian Education Loan Fund (NELFUND) has announced significant progress in its student loan scheme, which began operations on May 24, 2024. According to its latest daily status report released on Monday, August 11, 2025, the scheme has disbursed a total of ₦86,347,458,384 to students across the country.
The disbursement is split into ₦47.63 billion paid directly to 218 institutions as tuition fees, and ₦38.72 billion given directly to students as upkeep allowances.
NELFUND says the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda to ensure that every Nigerian student has access to funding for higher education.
How Many People Have Been Able to Access the Fund
Since its launch, 449,039 students have benefited from the loan scheme. Out of the 731,140 students registered on the portal, 720,732 have successfully applied for loans, showing an impressive 98% application success rate.
The report also indicates steady growth, with daily increases of 933 new successful registrants and 1,094 new successful applicants.
Recent Happenings
Just recently, on August 9, 2025, NELFUND disbursed ₦100.68 million to 556 students at Chukwuemeka Odumegwu Ojukwu University (COOU) as part of the first batch of 2024/2025 academic session disbursements.
Additionally, earlier this summer, NELFUND resumed upkeep disbursements for students who updated their bank details from digital wallets to conventional bank accounts, helping over 3,600 students who had been caught up by earlier delays to finally receive their payments .
How to Access This Fund
Eligible students who wish to benefit from the NELFUND loan must follow an online application process via the official NELFUND portal. Below are the key steps and important details to note:
1. Create an Account on the NELFUND Portal
Visit the official website (nelf.gov.ng) and register with your full name, a valid email address, phone number, and National Identification Number (NIN).
A verification email or SMS will be sent to confirm your account.
2. Complete the Application Form
Fill in your personal, academic, and financial details accurately.
Upload required documents such as your admission letter, valid means of identification, recent passport photograph, and proof of school fees from your institution.
3. Select Loan Type
You can apply for tuition fee loans (paid directly to your school) and/or upkeep allowances (paid to your personal bank account).
4. Institutional Verification
Your school will verify your details and confirm your admission status before the application is processed.
5. Approval and Disbursement
Once approved, tuition fees are paid directly to your institution, while upkeep allowances are transferred to your registered bank account.
Important to Note:
Only students in accredited public tertiary institutions are eligible.
Applicants must have a clean record without any loan default history.
It is crucial to ensure that your BVN and NIN match your application details to avoid payment delays.
Students who previously used digital wallets for upkeep must update to a conventional bank account for faster disbursement.
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