NELFUND
Ola Wale
The Nigerian Education Loan Fund (NELFUND) has disbursed N1.025 million to eight students of the University of Education and Entrepreneurship (UEE) in Akamkpa, Cross River State, for the 2025/2026 academic session. This is part of the third batch of the Students’ Loan Programme, reflecting NELFUND’s commitment to supporting access to quality education.
The Managing Director and CEO of NELFUND, Akintunde Sawyerr, emphasized that the agency is dedicated to ensuring that financial constraints do not hinder the academic aspirations of Nigerian students. The disbursement was acknowledged by the UEE management, with Dr. Eyo Ekpe expressing appreciation for the support.
The loan scheme covers institutional charges and student upkeep, with NELFUND paying fees directly to schools and providing monthly upkeep allowances to beneficiaries. The fund has disbursed over N184 billion to 1.5 million students across 265 institutions.
NELFUND has extended the application window for the 2025/2026 academic session for institutions that requested additional time, demonstrating its commitment to inclusivity and accessibility. The agency has also introduced new guidelines, tying upkeep loan disbursement to each institution’s academic session.
The University of Cross River State (UNICROSS) has advised students who applied for the NELFUND loan to verify their loan status and collect school fee receipts. This move aims to ensure that beneficiaries are aware of their loan approval and can access their funds.
NELFUND’s efforts have supported over 624,000 students across 239 government-owned institutions, with disbursements totaling N116 billion. The agency continues to collaborate with private sector partners to expand its reach and impact.
The loan repayment process is structured to be simple and fair, with graduates beginning repayment two years after completing the National Youth Service Corps (NYSC). Employers are mandated to remit 10% of beneficiaries’ monthly income to NELFUND.
