July 16, 2026
Abuja, Nigeria
Queens' Circle Magazine
ABUJA, NIGERIA — In a landmark move to democratize access to higher education, the Federal Government of Nigeria, through the Nigerian Education Loan Fund (NELFUND), continues to hit record milestones in its mission to support millions of Nigerian students. Following the historic signing of the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Act, 2024 by President Bola Tinubu, the initiative has evolved into a robust financial lifeline for students across all public tertiary and vocational institutions.
As of July 2026, NELFUND has successfully disbursed over ₦242.4 billion to more than 1.38 million beneficiaries nationwide. This initiative marks a significant departure from previous educational funding models, removing traditional barriers such as guarantor requirements and family income thresholds to ensure that no Nigerian student is left behind due to financial constraints
Key Provisions of the 2024 Student Loan Act
The current scheme, governed by the 2024 Act, introduces several student-centric reforms designed for sustainability and ease of access:
•
Universal Eligibility: The
loan is open to all Nigerian citizens enrolled in public universities,
polytechnics, colleges of education, and government-approved vocational and
skills acquisition centers.
•
Removal of Financial Barriers:
Unlike previous iterations, there is no requirement for a guarantor, and
students cannot be disqualified based on their parents' income or loan history.
•
Comprehensive Coverage:
Loans cover both institutional fees (paid directly to the school) and a monthly
upkeep allowance (paid directly to the student) to support daily living
expenses.
•
Flexible Repayment:
Repayment only commences two years after the completion of
the National Youth Service Corps (NYSC). Beneficiaries who remain
unemployed after this period can apply for a deferment by providing a sworn
affidavit.
• Safety Net: The Act includes provisions for loan forgiveness in the event of death or "acts of God" that render the beneficiary unable to repay.
Current Disbursement Status (July 2026)
NELFUND is actively processing and releasing payments for
the 2025/2026 academic session. Recent updates confirm that:
1
Upkeep Allowances: Monthly
maintenance payments for July 2026 are currently being disbursed in batches to
eligible students across the country.
2
Institutional Fees: Over ₦41.7 billion has been paid directly to tertiary
institutions to cover tuition and related charges for hundreds of thousands of
students.
3 National Spread: The Fund is mandated to ensure a fair national distribution, with current statistics showing a significant impact across all geopolitical zones.
How to Apply
Eligible students are encouraged to apply through the
official NELFUND portal. The process is fully digital and requires the
following:
•
National Identification Number
(NIN)
•
Bank Verification Number (BVN)
• Matriculation Number (for returning students) or JAMB Registration Number (for new intakes)
Applications can be submitted via the official website: https://portal.nelf.gov.ng/
About NELFUND
The Nigerian Education Loan Fund (NELFUND) is a corporate
body established by the Federal Government to manage and coordinate student
loans in Nigeria. It is funded by 1% of all taxes, levies, and duties collected
by the Federal Inland Revenue Service (FIRS). NELFUND’s mission is to provide a
sustainable funding mechanism for higher education, ensuring that every
Nigerian youth can acquire the skills and knowledge necessary to contribute to
national development.
Media Inquiries:
For more information, interviews, or detailed statistics,
please visit the official NELFUND website at https://nelf.gov.ng/ or contact the NELFUND support
team at https://nelfund.esupport.ng/.
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