The Nigerian Education Loan Fund (NELFUND) has officially disbursed a total of N392,876,550 in student loans to Delta State University, Abraka, marking a significant boost for 1,854 students across various faculties.
In a statement released on Sunday through its official X account, NELFUND emphasised that the funds are intended to alleviate the financial burdens facing students and enable them to focus more fully on their academic pursuits.
The management of Delta State University confirmed receipt of the funds in a letter dated January 20, 2026.
The letter, signed by the Registrar, Rufina Ufiofio, on behalf of the Vice-Chancellor, Professor Samuel Asagba, praised NELFUND for its ongoing commitment to expanding access to higher education in Nigeria.
According to the university, the funds will directly support students in covering tuition fees and other academic-related expenses, allowing them to concentrate on their studies without undue financial needs.
NELFUND, the federal agency tasked with implementing Nigeria’s student loan scheme, reported that the latest disbursement is part of its broader efforts to make tertiary education more financially accessible.
Since the launch of its online student loan portal on May 24, 2024, the fund has recorded over 1.6 million applications, with 983,706 students benefiting from the scheme to date.
The agency noted a modest 0.3 per cent increase in new applications compared to the previous day, representing an additional 5,541 students seeking financial support.
As of February 1, 2026, NELFUND has disbursed a cumulative total of N183.9 billion, covering both institutional tuition fees and student upkeep allowances.
Specifically, N107.1 billion has been allocated to tuition payments across 265 universities and polytechnics, while N76.8 billion has been distributed as monthly upkeep allowances to students.
The loans are structured to be interest-free, with repayment commencing two years after the beneficiaries complete their National Youth Service Corps (NYSC) programme.
Provisions also exist for total loan forgiveness in the event of death or permanent disability.
NELFUND confirmed that applications for the 2025/2026 academic session remained open, with a new submission deadline set for February 27, 2026.
The agency encouraged eligible students to apply promptly to take advantage of the financial assistance on offer.
The disbursement to Delta State University represents another milestone in NELFUND’s mission to reduce financial barriers to tertiary education in Nigeria, ensuring that students from diverse backgrounds could pursue their studies without the constraint of limited resources.
