NELFUND extends Student Loan deadline following N183.8bn disbursement

The Nigerian Education Loan Fund (NELFUND) has officially extended the application deadline for its student loan program, citing a massive surge in nationwide interest.

This decision, announced on Monday, March 2, comes just days after the portal was originally scheduled to close on February 27, 2026.

According to a statement from the Director of Strategic Communications, Oseyemi Oluwatuyi, the extension is a direct response to feedback from students and stakeholders following an intensive sensitization campaign across the six geopolitical zones.

The Fund noted that the additional window is specifically designed to accommodate students who require more time to navigate the process, prospective applicants who only recently became aware of the scheme, and institutions currently transitioning into the 2025/2026 academic session.

Managing Director and CEO Akintunde Sawyerr emphasized that the move aligns with the agency’s core mandate to democratize access to higher education.

He confirmed that the fund has already received 1.69 million applications and successfully disbursed ₦183.8 billion to beneficiaries across the country.

Sawyerr reaffirmed NELFUND’s commitment to a transparent and accountable process, noting that the goal remains the total elimination of financial barriers for students from low-income backgrounds.

For institutions yet to commence their new academic sessions, NELFUND has requested the submission of formal extension requests accompanied by approved academic calendars.

The agency also urged schools that have not yet provided verified student lists to do so promptly to prevent delays in disbursement.

Established under the Student Loan Act signed by President Bola Tinubu in April 2024, the scheme provides interest-free loans covering both tuition and monthly upkeep, with repayment deferred until the beneficiary secures employment after graduation.