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The Nigerian Education Loan Fund (NELFUND) has disbursed a combined N135.54 million to 1,298 students across three tertiary institutions, while recording 8,397 student loan applications in a single day, its highest daily figure since the launch of the scheme.
NELFUND disclosed the disbursements and the record-breaking daily application figure in separate posts on its official X account on Saturday, November 14, 2026.
The disbursements covered students at 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 released N2.5 million to 163 students to provide financial support for their academic pursuits.
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- The Fund said the disbursement was intended to help beneficiaries continue their education and reduce the financial burden associated with tertiary studies.
- At the African Aviation and Aerospace University in Abuja, NELFUND disbursed N6.97 million to 10 students, describing the payment as part of its efforts to make higher education more accessible.
- The Fund said the intervention reinforces its commitment to reducing financial barriers that could prevent students from pursuing their academic aspirations.
- NELFUND also disbursed N126.07 million to 1,125 beneficiaries of Niger Delta University, reaffirming its commitment to easing the financial burden of higher education and ensuring more students have the opportunity to pursue their academic goals.
The three disbursements amount to N135.54 million for 1,298 students across the institutions.
NELFUND records 8,397 student loan applications in one day
In a separate development, NELFUND recorded 8,397 student loan applications on Friday, November 13, 2026, setting a new daily record since the launch of the scheme.
The Fund disclosed this in a post on its official X account on Saturday, bringing the cumulative number of applications 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 also 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.
NELFUND’s 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. Previous Nairametrics reports have tracked the growth in funding, efforts to improve payment processes and challenges affecting beneficiaries.
On November 9, 2026, Nairametrics reported that NELFUND’s cumulative student loan disbursements had reached N375.28 billion, covering 1,675,474 beneficiaries. The amount comprised N194.77 billion paid to 320 beneficiary institutions as tuition fees and N180.51 billion released to students as upkeep allowances.
As the scheme expanded, payment administration also became an area of focus. In July 2026, Nairametrics reported that 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, Nairametrics reported that NELFUND had identified N927.98 million in unpaid upkeep allowances owed to 11,685 students following the 2024/2025 academic session.
