The management of Ladoke Akintola University of Technology has confirmed that over ₦1.4 billion from the Nigerian Education Loan Fund was successfully disbursed to students in 2025, easing financial pressure and improving access to education.

In a statement released by the university’s Registrar, Olayinka Balogun, the institution emphasized its strong and productive relationship with NELFUND, noting that the loan scheme has been a major support system for thousands of students.

“The disbursement has significantly reduced financial burdens and expanded opportunities for our students,” the statement noted.

According to the university, about 19,000 students applied for the loan scheme, with over 15,000 applications already verified. For the current 2025/2026 academic session, 5,237 students have been approved and are currently awaiting disbursement, while others are still being processed.

LAUTECH also clarified that earlier updates were misunderstood in some quarters, stressing that NELFUND has not failed or delayed payments intentionally.

“At no time did we suggest any reluctance from NELFUND,” the university explained, adding that the process is ongoing and on track.

Meanwhile, NELFUND confirmed that the approved batch of students represents a financial commitment of about ₦1.57 billion and is currently undergoing final administrative checks before payment is completed.

The agency also explained that loan approval does not mean immediate payment, as each application must go through structured processes, including verification, auditing, and financial clearance.

Both LAUTECH and NELFUND reaffirmed their commitment to ensuring that students receive the support they need, while also urging institutions to communicate updates carefully to avoid confusion.

With thousands of students already benefiting and more payments on the way, the student loan scheme continues to play a crucial role in supporting higher education in Nigeria.