The Nigerian Education Loan Fund (NELFUND) has approved an extension of its Student Loan Application Portal following a sharp rise in nationwide interest driven by its ongoing sensitisation campaign.

The development comes barely days after the Fund reminded applicants that the portal was scheduled to close on February 27, 2026.

In a statement signed by its Director of Strategic Communications, Oseyemi Oluwatuyi, on Monday, the agency said the decision was taken in response to strong feedback from students and stakeholders across the country.

According to the statement, the extension became necessary due to the significant increase in awareness and participation recorded nationwide.

“The Nigerian Education Loan Fund has approved an extension of its Student Loan Application Portal following a significant increase in awareness and nationwide demand generated by its ongoing sensitisation campaign,” the statement read in part.

“The Fund has approved some additional days to ensure all eligible students are given adequate opportunity to complete their applications, pending further management decisions and communications.”

The Fund explained that the extension would accommodate students requiring extra time, prospective applicants who recently became aware of the scheme, institutions that have just commenced the 2025/2026 academic session, and schools yet to submit verified student lists.

Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, said the move aligns with the Fund’s mandate to expand access to tertiary education financing.

“Our sensitisation efforts across the six geopolitical zones have significantly increased awareness and participation,” Sawyerr said.

“Therefore, in line with our mandate to expand access to tertiary education financing, we have approved an extension to ensure that all eligible students have a fair and equal opportunity to apply.”

He reiterated the Fund’s commitment to transparency, accountability, and the provision of sustainable student financing solutions aimed at removing financial barriers to higher education.

At the close of the portal on Friday, NELFUND disclosed that it had received 1.69 million applications and disbursed ₦183.8bn to beneficiaries.

The Fund urged institutions that are yet to commence the 2025/2026 academic session to submit an official request for extension along with their approved academic calendar.

Students were also advised to complete their applications via the official portal before the new deadline expires.

According to reports, NELFUND was established to administer the Nigeria Student Loan Scheme, enacted into law by Bola Tinubu in April 2024.

Under the initiative, the Federal Government provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses.

Applications for the scheme opened in May 2024 as part of efforts to ease the burden of rising education costs, particularly for students from low-income backgrounds.

Beneficiaries are expected to repay the loans after completing their studies and securing employment.