The Nigerian Education Loan Fund (NELFUND) has disbursed a mixed N135.54 million to 1,298 students throughout three tertiary establishments, whereas recording 8,397 scholar mortgage applications in a single day, its highest every day determine for the reason that launch of the scheme.
NELFUND disclosed the disbursements and the record-breaking every day utility determine in separate posts on its official X account on Saturday, November 14, 2026.
The disbursements coated students on the College of Education, Billiri, Gombe State; the African Aviation and Aerospace University, Abuja; and Niger Delta University.
Breakdown of the disbursements
At the College of Education, Billiri, NELFUND launched N2.5 million to 163 students to present monetary help for his or her educational pursuits.
- The Fund mentioned the disbursement was meant to assist beneficiaries proceed their schooling and scale back the monetary burden related to tertiary research.
- At the African Aviation and Aerospace University in Abuja, NELFUND disbursed N6.97 million to 10 students, describing the cost as a part of its efforts to make larger schooling extra accessible.
- The Fund mentioned the intervention reinforces its dedication to lowering monetary obstacles that would stop students from pursuing their educational aspirations.
- NELFUND additionally disbursed N126.07 million to 1,125 beneficiaries of Niger Delta University, reaffirming its dedication to easing the monetary burden of upper schooling and making certain extra students have the chance to pursue their educational objectives.
The three disbursements quantity to N135.54 million for 1,298 students throughout the establishments.
NELFUND records 8,397 scholar mortgage applications in one day
In a separate improvement, NELFUND recorded 8,397 scholar mortgage applications on Friday, November 13, 2026, setting a brand new every day file for the reason that launch of the scheme.
The Fund disclosed this in a put up on its official X account on Saturday, bringing the cumulative variety of applications obtained for the reason that scheme commenced to 2,470,176.
NELFUND described the milestone as a mirrored image of rising demand for accessible larger schooling 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 said.
The Fund additionally mentioned the rising response displays the boldness of Nigerian students in the Student Loan Scheme and the significance of sustained efforts to take away monetary obstacles to larger schooling.
NELFUND’s increasing scholar mortgage programme
The newest disbursements and surge in applications replicate the continued growth of NELFUND’s scholar mortgage scheme since its launch in 2024. Previous Nairametrics reviews have tracked the expansion in funding, efforts to enhance cost processes and challenges affecting beneficiaries.
On November 9, 2026, Nairametrics reported that NELFUND’s cumulative student loan disbursements had reached N375.28 billion, masking 1,675,474 beneficiaries. The quantity comprised N194.77 billion paid to 320 beneficiary establishments as tuition charges and N180.51 billion launched to students as repairs allowances.
As the scheme expanded, cost administration additionally turned an space of focus. In July 2026, Nairametrics reported that NELFUND deliberate to introduce a digital token-based payment system to replace direct tuition payments to institutions. The proposed system was meant to handle instances of double funds involving students who had already paid their charges earlier than NELFUND processed their applications.
The proposed adjustments adopted earlier considerations about delays in getting funds to beneficiaries. In January 2026, Nairametrics reported that NELFUND had identified N927.98 million in unpaid upkeep allowances owed to 11,685 students following the 2024/2025 educational session.
