Nigeria Education Loan Update: NELFUND Extends Student Loan Application Deadline

The Nigerian Education Loan Fund has announced an extension of the application deadline for the 2025/2026 academic session, moving it from January 31, 2026, to February 27, 2026.

The extension was disclosed in an official statement released in Abuja on Thursday. According to the Fund, the adjustment was made to provide prospective applicants with additional time to complete and submit their student loan applications without pressure.

The Director of Strategic Communications, Oseyemi Oluwatuyi, explained that the decision was aimed at ensuring that no eligible student is excluded from the Nigeria Student Loan Scheme due to timing challenges.

She stated that the revised deadline would give applicants sufficient opportunity to upload required documents and complete all stages of the application process.

Reacting to the development, the Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, said the extension reflects the Fund’s commitment to equal access to education financing for Nigerian students.

According to him, some applicants may need extra time to finalize their submissions, and the extension guarantees that every qualified student has a fair chance to benefit from the interest-free education loan programme.

NELFUND urged students who have not yet applied or who have started but not completed their applications to take full advantage of the extended deadline and ensure all necessary information is submitted on or before February 27, 2026.

The Fund also noted that further updates and official information regarding the student loan scheme would continue to be shared through its authorized communication channels.

The Nigerian Education Loan Fund was created to manage the Nigeria Student Loan Scheme, which was signed into law by President Bola Tinubu in April 2024. The programme provides interest-free loans to students enrolled in public tertiary institutions across the country.

Under the scheme, beneficiaries can access funding to cover tuition fees and approved living expenses, easing the financial burden on students and families, particularly those from low-income backgrounds.

Applications for the federal student loan programme commenced in May 2024 as part of broader efforts to improve access to higher education and reduce financial barriers.

As of January 29, 2026, a total sum of ₦174,561,719,810 had been disbursed to eligible students nationwide under the education loan initiative, highlighting the growing impact of the programme on Nigeria’s tertiary education sector.