NELFUND Disburses N116.4bln in Student Loans to 624,000 Beneficiaries in 18 Months

Student loan: NELFUND disburses N116.4b to over 624,000 beneficiaries - NewsTmes.com.ng

The Nigerian Education Loan Fund (NELFUND) has declared significant progress in its student loan scheme, with over N116.4 billion disbursed to beneficiaries since the portal launch on May 24, 2024. NELFUND, according to the Daily Status Report released on Tuesday, October 28, 2025, via its official X handle, disclosed that a total of 929,805 applications … The post Student loan: NELFUND disburses N116.4b to over 624,000 beneficiaries appeared fi…

NELFUND Disburses N116.4bln in Student Loans to 624,000 Beneficiaries in 18 Months

The Nigerian Education Loan Fund (NELFUND) has reached a significant milestone, disbursing N116.4 billion to 624,535 students since its launch on May 24, 2024. As detailed in NELFUND’s Daily Status Report on Tuesday, October 28, 2025, the total number of applications received stands at 929,805. The loan funds are broken down as follows: *Tuition Fees – N65.3 billion paid to 239 institutions. “Upkeep Allowances – N51.1 billion disbursed directly …