NELFUND Extends 2025/2026 Student Loan Application Deadline as ₦183 Billion Disbursed to Nearly One Million Students

The Nigerian Education Loan Fund has announced another extension of the application deadline for its 2025/2026 student loan programme, offering fresh relief to thousands of prospective beneficiaries across the country.

The application portal was previously scheduled to close on 27 February after an earlier extension. However, the Fund confirmed that additional days have now been approved to allow more eligible students to complete their submissions.

In a statement issued by the agency’s Director of Strategic Communications, Oseyemi Oluwatuyi, the extension was described as a response to strong feedback from students and other stakeholders nationwide. According to the Fund, the surge in applications and inquiries made it necessary to provide extra time to ensure that no qualified applicant is left out.

Although a specific new closing date was not disclosed, the agency explained that the extension is designed to accommodate tertiary institutions that are only just commencing their 2025/2026 academic session. It also covers institutions that are yet to submit verified student data required for processing loan applications.

The Fund further noted that the additional window will benefit students who require more time to complete their documentation, as well as those who only recently became aware of the scheme during nationwide sensitisation campaigns.

“In response to the volume of applications and engagement from key stakeholders, the Fund has approved additional days to ensure all eligible students are given adequate opportunity to complete their applications, pending further management decisions and communication,” the statement said.

Institutions that have not yet begun their academic session for 2025/2026 have been advised to formally request an extension. Such requests must be accompanied by their approved academic calendar for consideration by the Fund’s management.

Massive Disbursement Figures Signal Growing Impact

The latest update comes amid impressive disbursement figures released by the Fund. As of 1 March, the agency disclosed that it has disbursed a total of ₦183 billion under the student loan scheme.

Out of this amount, ₦107 billion has been paid directly to tertiary institutions as tuition and institutional fees. Another ₦76 billion has been disbursed as upkeep allowances to students to support their living expenses.

In total, 983,706 students across 265 tertiary institutions have benefited from the scheme so far, reflecting one of the largest education financing interventions in Nigeria’s history.

The student loan initiative was established following the signing of the Access to Higher Education Act (2023) by President Bola Tinubu shortly after assuming office. The legislation created NELFUND to provide interest-free loans to students in public tertiary institutions across Nigeria.

The first application cycle for the programme commenced in May 2024 and ran until 21 February 2025. The current extension forms part of ongoing efforts to widen access and increase participation in the 2025/2026 academic session.

With rising tuition costs and economic pressures affecting households nationwide, the NELFUND initiative continues to attract high demand from students seeking financial assistance. Analysts note that the scale of disbursement and the near one-million beneficiary mark underline the growing importance of structured education financing in Nigeria.

Students and institutions are advised to monitor official communications from the Fund for updates on the revised deadline and further application guidelines.