The Nigerian Education Loan Fund (NELFUND) has disbursed ₦392,876,550 in student loans to Delta State University, benefiting 1,854 students.
In a statement shared via its official X account, NELFUND said the disbursement is intended to ease financial burdens on students and enable them to focus more effectively on their academic pursuits.
The university confirmed receipt of the funds in an acknowledgement letter dated January 20, 2026, signed by Registrar Rufina Ufiofio on behalf of Vice-Chancellor Samuel Asagba. The institution commended NELFUND for its role in improving access to higher education financing in Nigeria.
Over ₦183bn Disbursed Nationwide
NELFUND noted that the latest payment forms part of broader efforts to expand access to tertiary education loans across the country.
Since launching its student loan portal on May 24, 2024, the agency has recorded over 1.6 million applications, with 983,706 students benefiting from the scheme.
As of February 1, 2026, a total of ₦183.9 billion has been disbursed nationwide:
- ₦107.1 billion for tuition fees paid directly to 265 beneficiary institutions
- ₦76.8 billion allocated for student upkeep allowances
The agency also reported a 0.3% rise in new applications, amounting to an additional 5,541 submissions compared to the previous day.
Loan Terms
Under the scheme, loans cover institutional fees paid directly to universities, alongside monthly upkeep allowances for students. The loans are interest-free, with repayment beginning two years after beneficiaries complete the National Youth Service Corps (NYSC) programme. Provisions for loan forgiveness apply 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.
