2025/2026 Student Funds: NELFUND extends loan application deadline
In a significant move to ensure educational equity across the country, the Nigerian Education Loan Fund has officially announced that NELFUND extends loan application deadline for the 2025/2026 academic session. Originally slated to close on January 31, 2026, the application window has now been moved to February 27, 2026. This 30-day grace period is designed to accommodate thousands of students who have faced technical difficulties or struggled to coordinate with their respective institutions for data verification.
The announcement, made on Thursday, January 29, 2026, by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, emphasizes the government’s “commitment to inclusivity.” Managing Director Akintunde Sawyerr noted that the extension acknowledges the diverse challenges faced by students in remote areas and those in institutions currently undergoing academic calendar adjustments.
Why the Extension Matters
Since its inception, NELFUND has become a cornerstone of the President Bola Tinubu administration’s educational reform. The extension is not merely a delay but a strategic intervention to capture “indigent students” who might otherwise be left behind.
- Institutional Coordination: Many tertiary institutions have been slow to upload student records onto the Student Verification System (SVS), a prerequisite for successful loan processing.
- Technical Hurdles: With over 1.4 million applications currently logged, the portal has faced heavy traffic, leading to intermittent downtime for some users.
- Economic Relief: By pushing the date to late February, the fund allows newly admitted students from the current admission cycle enough time to secure their matriculation details and apply.
Navigating the Application Process
To benefit from this zero-interest facility, students must navigate a streamlined digital portal. The fund covers two distinct areas: Institutional Charges (paid directly to the school) and an Upkeep Loan (paid monthly to the student’s personal account).
Key Requirements for Applicants:
- A valid National Identification Number (NIN) and Bank Verification Number (BVN).
- Proof of admission from a public Nigerian university, polytechnic, or college of education.
- A functional email address and phone number for real-time status updates.
The application typically takes between 15 to 30 minutes. Once submitted, NELFUND cross-references the student’s data with the institution’s records. As of January 2026, over N170 billion has already been disbursed to nearly 950,000 beneficiaries, with major universities like UNILAG and LASU receiving billions in direct payments to clear student debts.
Repayment and Long-Term Sustainability
A common concern among students is the fear of immediate debt. However, NELFUND operates on a highly flexible repayment model. Beneficiaries are only expected to begin repaying the loan two years after the completion of their National Youth Service Corps (NYSC) program. For those entering the workforce, a standard 10% deduction is made from their monthly salary. The Fund has also hinted at “loan forgiveness opportunities” for graduates who excel in specific public service sectors or face documented financial hardship.
READ ALSO: Over 788,950 Students Benefit as NELFUND Disburses ₦154.4bn in 18 Months
As the new February 27 deadline approaches, NELFUND encourages all eligible students, especially those who previously faced “unverified” status errors, to re-engage with their school’s Dean of Student Affairs and ensure their records are updated. This extension represents a final call for the 2025/2026 cycle, ensuring that no Nigerian student loses their right to education due to a lack of funds.