Updated February 15, 2026
Abraka, Delta State – In a major boost for higher education financing, the Nigerian Education Loan Fund (NELFUND) has disbursed ₦392,876,550 to students of Delta State University, Abraka, benefiting 1,854 undergraduates.
The fund, in a statement released Sunday via its official X account, said the disbursement is aimed at easing financial burdens and enabling students to focus on their academic pursuits without interruption.
The university confirmed receipt of the funds in an acknowledgment letter dated January 20, 2026, signed by Registrar Rufina Ufiofio on behalf of Vice-Chancellor Samuel Asagba. The letter commended NELFUND for its commitment to expanding access to higher education in Nigeria.
NELFUND, the federal agency responsible for implementing Nigeria’s student loan scheme, highlighted that the latest release is part of ongoing efforts to broaden access to tertiary education financing. Since the launch of its student loan portal on May 24, 2024, the agency has recorded over 1.6 million applications, with 983,706 students benefiting so far.
The fund reported a 0.3% increase in new applications in a single day, amounting to 5,541 additional submissions. As of February 1, 2026, NELFUND has disbursed a total of ₦183.9 billion, covering both institutional fees and monthly upkeep allowances. Specifically, ₦107.1 billion was allocated for tuition fees across 265 institutions, while ₦76.8 billion went to students’ upkeep allowances.
Under the scheme, loans are interest-free, with repayment scheduled to begin two years after the completion of the National Youth Service Corps (NYSC) program. Provisions also exist for loan forgiveness in cases of death or permanent disability.
NELFUND confirmed that applications for the 2025/2026 academic session remain open, with the deadline extended to February 27, 2026.
This development marks another step in the federal government’s push to make tertiary education more accessible and affordable for Nigerian students nationwide.
