Latest Updates on NELFUND Student Loan Payments for 2025

Updates on NELFUND Student Loan Payments for 2025. Latest Updates on NELFUND Student Loan Payments for 2025: N45.1 Billion Disbursed and Counting

The Nigerian Education Loan Fund (NELFUND) is revolutionizing access to higher education, having disbursed an impressive N45.1 billion in student loans from May 2024 to March 2025. This milestone, unveiled in the Student Loan Dashboard Update on March 26, 2025, via NELFUND’s official X account, highlights the federal government’s dedication to easing financial hurdles for Nigerian students. As of April 2, 2025, this program continues to gain momentum, offering a lifeline to thousands. Here’s the latest on NELFUND’s student loan disbursements, how it’s transforming lives, and what’s next for 2025.

NELFUND’s Remarkable Progress in 2025

Since its launch in May 2024, NELFUND has hit the ground running. The March 26 update shows 525,936 students registered on the platform, with 445,015 successfully securing loans—a stellar 84% approval rate. The program’s popularity soared with a 192% spike in new registrants within 24 hours (March 25–26), adding 1,313 students and 2,523 new applications worth N871.3 million. While N147.9 billion has been approved, the N45.1 billion disbursed so far reflects a deliberate, phased rollout to ensure accuracy and impact.

How the N45.1 Billion Breaks Down

NELFUND’s N45.1 billion disbursement splits into two vital streams:

• Institutional Fees: N29.86 billion has gone straight to approved tertiary institutions, covering tuition and academic costs to keep students enrolled.
• Upkeep Allowances: N15.23 billion has been paid out as monthly stipends, helping students manage living expenses.

This two-pronged support system—tackling both education and survival costs—sets NELFUND apart, with an extra N871.3 million injected in a single day showing its rapid pace.

Who Can Access NELFUND Loans?

For now, NELFUND targets first-degree students at recognized Nigerian tertiary institutions. Managing Director Akintunde Sawyerr has confirmed that postgraduate students aren’t yet eligible, though expansion plans are in the works for 2025 and beyond. The process is merit-driven, leveling the playing field so any qualifying student can benefit, no connections required.

Standout Features of NELFUND in 2025

NELFUND’s student loan program is built for accessibility and fairness:

• Disability Inclusion: A partnership with the National Commission for Persons with Disabilities (NCPWD) is rolling out software to simplify applications for students with disabilities, especially the visually impaired.
• Repayment Flexibility: Repayment kicks in two years post-NYSC, only after employment, with a light 10% salary deduction. Loans are forgiven in case of death, protecting families.
• Global Mobility: Graduates can chase opportunities abroad without loan-related restrictions.

Why NELFUND’s Disbursements Are a Game-Changer

With Nigeria’s education sector plagued by funding gaps, NELFUND’s N45.1 billion injection by March 2025 is a game-changer. Supporting over 445,000 students, it tackles dropout rates head-on, aligning with President Tinubu’s mission to make education a poverty-fighting tool. The 192% daily registrant surge and 84% success rate prove its reach and reliability, positioning NELFUND as a pillar of Nigeria’s future workforce.

How to Apply for NELFUND Loans in 2025

Ready to tap into this opportunity? Head to https://nelf.gov.ng and follow these steps:

1. Register with your email and personal info.
2. Submit your NIN, JAMB number, and other required documents.
3. Await verification from NELFUND and your school.

Once approved, tuition fees go directly to your institution, and upkeep funds hit your bank account. Enhanced accessibility for disabled students is coming soon, thanks to the NCPWD collaboration.

Challenges and What Lies Ahead

Though N45.1 billion is disbursed of the N147.9 billion approved, the gap signals a careful strategy to maintain sustainability. Postgraduate exclusion remains a limitation, but Sawyerr’s expansion hints promise relief soon. Long-term success will depend on job growth to support repayments post-NYSC. With its inclusive design and transparent updates, NELFUND could set a benchmark for student financing worldwide in 2025.

Conclusion: NELFUND’s Bright Future in 2025

The NELFUND student loan payments of N45.1 billion by March 2025 mark a bold leap toward educational equity. With N29.86 billion for fees and N15.23 billion for upkeep, it’s empowering 445,015 students to thrive. If you’re wondering how to fund your degree, NELFUND’s got you covered—join the 525,936 registered users at https://nelf.gov.ng today. What’s your take on this initiative? Share your thoughts below!