NELFUND Disburses ₦206.29bn in Student Loans Since 2024
The Nigerian Education Loan Fund (NELFUND) has disbursed ₦206.29 billion in student loans to 1,164,222 beneficiaries since launching the scheme on May 24, 2024. The fund's March 9, 2026, report shows 1,734,985 students have applied, with 270 institutions benefiting. ₦128.84bn covered tuition fees and ₦77.45bn provided upkeep allowances. The scheme, established under the Student Loans Act, aims to remove financial barriers to higher education. Repayments begin after graduation and employment. Application numbers rose 0.1% to 1,910 new submissions yesterday.