BY IFEANYI UWAGWU
The Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦154.37 billion to students and tertiary institutions across the country under the Federal Government’s Student Loan Scheme, according to the latest figures from its official dashboard.
According to the Student Loan Disbursement Daily Status Report generated yesterday, a total of 1,284,692 applications have been received since the launch of the student loan portal on May 24, 2024, out of which 788,947 students have so far benefited from the scheme.
The dashboard indicated that as of December 9, 2025, NELFUND had paid ₦82.35 billion directly to 262 beneficiary institutions as tuition fees on behalf of students, while ₦72.03 billion had been disbursed as upkeep allowances to student beneficiaries. This brings the total loan disbursement to ₦154,373,551,374.00.
The report also highlighted a steady rise in interest and participation in the scheme, with 6,292 new applications recorded over the previous day, representing a 0.5 per cent increase in applications.
NELFUND noted that the disbursements reflect its commitment to easing the financial burden on Nigerian students and improving access to higher education. The scheme covers both institutional fees paid directly to schools and monthly upkeep allowances paid to students, ensuring that beneficiaries are supported academically and socially.
The dashboard summary described the progress recorded so far as a significant milestone since the launch of the student loan portal, stressing that the initiative aligns with the Federal Government’s Renewed Hope Agenda aimed at empowering Nigerian students through improved access to education financing.
Since its commencement, the NELFUND student loan scheme has continued to attract widespread attention, particularly among students in public tertiary institutions, as it seeks to address longstanding challenges of affordability and access to higher education in Nigeria.
