The Nigerian Education Loan Fund (NELFUND) has disbursed ₦154.37 billion in interest-free loans to 788,947 students nationwide within 18–19 months of operation.
As of December 9, 2025, NELFUND processed 62.3% of the 1,265,509 applications received. Of the total disbursement, ₦82.35 billion was paid directly to 262 tertiary institutions for tuition and mandatory fees, while ₦72.02 billion was released to students as monthly upkeep allowances.
The loan scheme covers students in public universities, polytechnics, colleges of education, and selected technical and nursing schools. Beneficiaries repay only the principal, with repayment starting two years after completing NYSC, subject to employment.
NELFUND noted that application delays are mainly due to incomplete student data or verification lags by institutions. The fund has also begun releasing tuition support for the 2025/2026 academic session, benefiting institutions including Sokoto State University and Obafemi Awolowo University.
