NELFUND pays N135.54m to 1,298 students, records 8,397 loan applications in one day

The Nigerian Education Loan Fund (NELFUND) has disbursed a combined N135.54 million to 1,298 students across three tertiary institutions. The fund also recorded 8,397 student loan applications in one day, its highest daily figure since the scheme launched.

NELFUND disclosed the disbursements and the record daily application figure in separate posts on its official X account on Saturday, November 14, 2026. The payments covered the College of Education, Billiri, Gombe State; the African Aviation and Aerospace University, Abuja; and Niger Delta University.

Disbursement breakdown

At the College of Education, Billiri, NELFUND released N2.5 million to 163 students to provide financial support for their academic pursuits. The fund said the payment was intended to help beneficiaries continue their education and reduce the financial burden of tertiary studies.

At the African Aviation and Aerospace University in Abuja, NELFUND disbursed N6.97 million to 10 students. It described the payment as part of efforts to make higher education more accessible and to reduce financial barriers that could stop students from pursuing academic aspirations.

NELFUND also disbursed N126.07 million to 1,125 beneficiaries of Niger Delta University. The fund said the intervention was meant to ease the financial burden of higher education and ensure more students can pursue their academic goals. The three disbursements amount to N135.54 million for 1,298 students.

Record daily applications

In a separate development, NELFUND recorded 8,397 student loan applications on Friday, November 13, 2026, setting a new daily record since the scheme launched. The fund announced the figure in a post on its official X account on Saturday.

The latest applications bring the cumulative number received since the scheme commenced to 2,470,176. NELFUND described the milestone as a reflection of growing demand for accessible higher education financing.

"The demand for accessible higher education financing continues to grow as NELFUND records an impressive 8,397 student loan applications in just one day," it stated. The fund said the growing response reflects the confidence of Nigerian students in the Student Loan Scheme and the importance of sustained efforts to remove financial barriers to higher education.

Expanding student loan programme

The latest disbursements and surge in applications reflect the continued expansion of NELFUND's student loan scheme since its launch in 2024. As of November 9, 2026, cumulative student loan disbursements had reached N375.28 billion, covering 1,675,474 beneficiaries.

That amount comprised N194.77 billion paid to 320 beneficiary institutions as tuition fees and N180.51 billion released to students as upkeep allowances.

Payment administration has also become a focus. In July 2026, NELFUND planned to introduce a digital token-based payment system to replace direct tuition payments to institutions. The proposed system was intended to address cases of double payments involving students who had already paid their fees before NELFUND processed their applications. The proposed changes followed earlier concerns about delays in getting funds to beneficiaries.

In January 2026, NELFUND identified N927.98 million in unpaid upkeep allowances owed to 11,685 students following the 2024/2025 academic session.

For students and households, the key takeaway is that NELFUND is processing both tuition support and upkeep allowances at scale, with total disbursements now at N375.28 billion.