The Nigerian Education Loan Fund (NELFUND) has officially started making direct payments to students through digital banking platforms. This marks a major shift from the earlier plan, which had only considered the option. Recall that NELFUND instructed institutions to upload students details to the Student Loan Application System (SLAS).
In a recent statement, NELFUND confirmed that backlogs of up to eight months have now been cleared. “Students can now receive payments through digital banking platforms, a feature that wasn’t possible before,” the agency stated.
Testimonies have begun to surface, confirming the reality of the scheme. One excited beneficiary shared a message received from their bank:
“Txn: Credit
Ac:2XX..57X
Amt:NGN 160,000.00
Des:R-1283705690/NIGERIA
ED:NELFUN
Date: 09-07-2025 15:54
Bal:NGN 160,006.21″
NELFUND encouraged more students to apply and spread the word. “We fund your education, you focus on your studies, and together, we succeed,” the agency added.
For student applicants whose portal status shows “Verified,” the application has passed the initial checks. However, final disbursement depends on the student’s institution confirming and uploading their data to the system. Once this is done, the status will change to “Disbursed,” and tuition payments will be processed.
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This change is expected to eliminate delays caused by institutions holding funds.
