NELFUND Disburses Over ₦392m Loan To Delta State University Students

The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of ₦392,876,550 in student loans to Delta State University, Abraka, benefiting 1,854 students.

In a statement released on Sunday via its official X account, the fund said the disbursement is aimed at easing financial pressures on beneficiaries and supporting their academic pursuits.

The university confirmed receipt of the funds in an acknowledgement letter dated January 20, 2026, signed by the Registrar, Rufina Ufiofio, on behalf of the Vice-Chancellor, Samuel Asagba.

According to the letter, the funding received in January 2026 will enable affected students to focus more fully on their studies, while also commending NELFUND for its commitment to improving access to higher education in Nigeria.

READ ALSO: Student Loan Hits One Million Application Milestone— NELFUND

NELFUND, the federal agency responsible for implementing Nigeria’s student loan scheme, said the latest disbursement forms part of its efforts to expand access to tertiary education financing.

On Friday, it said it has reported progress since the launch of its student loan portal on May 24, 2024, recording over 1.6 million applications, with 983,706 students benefiting from the loan scheme.

NELFUND noted a 0.3% increase in new applications compared to the previous day, amounting to an additional 5,541 applications submitted.

As of February 1, 2026, it said a total of ₦183.9 billion has been disbursed, covering institutional fees and upkeep allowances.

Specifically, ₦107.1 billion was paid for tuition fees across 265 beneficiary institutions, and ₦76.8 billion was allocated for upkeep allowances to students, NELFUND said.

Under the scheme, loans cover institutional fees paid directly to universities as well as a monthly upkeep allowance for students.

The loans are interest-free, with repayment scheduled to begin two years after beneficiaries complete the National Youth Service Corps programme, while provisions exist for forgiveness in cases of death or permanent disability.

The agency also confirmed that applications for the 2025/2026 academic session remain open, with the deadline extended to February 27, 2026.