The Nigerian Education Loan Fund (NELFUND) has distributed a cumulative N322.69 billion to Nigerian scholars and higher education establishments since launching its Student Loan Portal in May 2024.
Based on the recent NELFUND Student Loan Disbursement Status Report compiled on Saturday, the agency has handled 1,659,853 requests, illustrating the increasing adoption of the national government’s tertiary funding initiative.
The summary indicated that N192.89 billion was remitted directly to 319 participating academic centers for statutory fees, while an additional N129.80 billion was distributed as living stipends to scholars.
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These updated metrics mark an expanded coverage for the program, which was initiated by President Bola Tinubu’s government to alleviate the cost of university education for learners and their households.
NELFUND stated that the payments encompassed tuition, administrative charges, and personal upkeep funding for recipients, matching the national goal to expand availability to higher learning.
The agency characterized these figures as key accomplishments attained since opening its online portal on May 24, 2024, noting that the measure aims to assist Nigerian students and eliminate monetary obstacles to higher education.
