The Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦206.29 billion in interest-free student loans, reaching 1,164,222 beneficiaries across public tertiary institutions nationwide and marking a major step toward removing financial barriers to higher education.
According to NELFUND's daily status report (as of March 9, 2026), this cumulative disbursement has occurred since the scheme's launch in May 2024. The figure includes:₦128.84 billion transferred directly to 270 tertiary institutions to cover tuition fees for approved applicants.
₦77.45 billion provided as upkeep allowances to support students' living expenses during their studies.
The program has seen strong demand, with over 1.73 million applications submitted via the portal since it opened on May 24, 2024. More than 1.16 million students have already received funds, helping reduce dropout rates linked to financial challenges and promoting greater access to quality education.
This interest-free initiative targets eligible students in public universities, polytechnics, and colleges of education, funding both academic fees and essential upkeep without any interest or hidden charges.
NELFUND continues to process applications and expand disbursements efficiently, with ongoing efforts to verify and support remaining applicants across the country.
The scheme remains a key pillar of the federal government's commitment to inclusive and equitable tertiary education in Nigeria.
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