FG Student Loan Scheme: NOUN University Part-time Students Receive ₦13.78m NELFUND Disbursement

The Vice-Chancellor of the National Open University of Nigeria, Uduma Oji Uduma, has approved the disbursement of funds under the Nigerian Education Loan Fund to eligible students of the institution.

A total sum of ₦13,780,250.00 will be credited to the e-wallets of 90 students who successfully applied for the federal student loan scheme.

Breakdown of the NELFUND Disbursement to NOUN Students

According to official documentation, the approval followed a memo dated February 27, 2026, signed by the university’s Registrar, Oladipo Ajayi. The memo confirmed that the Nigerian Education Loan Fund was ready for disbursement to the selected beneficiaries.

The internal communication requested the Vice-Chancellor’s approval and directive to the Bursar to release the approved amount directly into the respective e-wallet accounts of the affected students.

Following a review of the submission, the Vice-Chancellor granted approval for the immediate disbursement of the ₦13.78 million to the 90 beneficiaries.

What the NELFUND Payment Means for Students

The NELFUND initiative is part of the Federal Government’s broader student financing framework aimed at expanding access to higher education through structured education loans. By crediting funds directly into students’ e-wallets, the system enhances transparency, accountability, and financial tracking.

For beneficiaries at the National Open University of Nigeria, the disbursement provides financial support to cover approved academic expenses, reducing the burden of tuition and related costs.

Strengthening Access to Higher Education Financing

The approval and release of funds underscore ongoing efforts to improve access to tertiary education funding in Nigeria. With rising education costs and increasing enrolment in open and distance learning programmes, structured loan disbursement mechanisms such as NELFUND are expected to play a larger role in supporting students nationwide.

The latest disbursement to NOUN students highlights continued implementation of the federal student loan programme and reinforces the university’s commitment to ensuring that qualified applicants receive timely financial support.