Abuja, Nigeria — August 15, 2025 | The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of ₦86 billion to 449,000 beneficiaries under its student loan scheme, aimed at easing the financial burden on students in tertiary institutions.
Managing Director of NELFUND, Akintunde Sawyerr, disclosed that the disbursements were made from a total of 735,000 applications received since the scheme’s launch. He noted that the initiative is part of the Federal Government’s efforts to promote inclusive access to higher education and ensure that financial constraints do not hinder academic pursuits.
“We are committed to ensuring that no Nigerian student is denied quality education because of lack of funds,” Sawyerr said. “Our verification process is rigorous to guarantee that the funds go to genuine applicants who meet the eligibility criteria.”
The student loan scheme, introduced to cover tuition, learning materials, and living expenses, is structured to be interest-free, with repayment scheduled to begin after graduation and employment.
Education experts have commended the scheme as a step toward bridging the gap in educational funding, though they stress the need for transparency, efficient monitoring, and timely repayment to sustain the programme in the long term.
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