By Clifford Ejenavi
The Nigerian Education Loan Fund (NELFUND) has recorded a total of 31,222 new successful student loan applications within the first week of 2026, marking a strong start to the year and underscoring the growing acceptance of the federal government’s student loan scheme.
According to data released by the Fund, the surge in applications reflects increased awareness among students and parents, as well as sustained efforts by NELFUND to streamline its digital application process. The successful applications cut across beneficiaries from public tertiary institutions nationwide, including universities, polytechnics and colleges of education.
Managing Director/Chief Executive of NELFUND, Mr. Akintunde Sawyerr, described the development as encouraging, noting that the figures demonstrate renewed confidence in the scheme as a viable means of supporting access to higher education. He said the Fund remains committed to ensuring that no qualified Nigerian student is denied education due to financial constraints.
“The number of successful applications recorded within just one week of 2026 shows that students are increasingly embracing the loan programme. Our focus is to make the process transparent, efficient and accessible to all eligible applicants,” Sawyerr said.
He added that NELFUND has continued to improve its online portal to reduce processing time and eliminate bottlenecks, while also strengthening collaboration with tertiary institutions to ensure timely verification of applicants’ data.
Stakeholders in the education sector have described the development as a positive signal for the sustainability of the student loan initiative, especially at a time when rising tuition and living costs pose significant challenges to students and families.
NELFUND reiterated that applications remain open and urged students who meet the eligibility criteria to apply through the official portal, warning against the use of third-party agents. The Fund also assured applicants that disbursement processes would be handled promptly in line with established guidelines.
The student loan scheme is a key component of the federal government’s broader strategy to expand access to tertiary education, promote equity and invest in Nigeria’s human capital development.
