As of August 29, 2025, the Nigerian Education Loan Fund (NELFund) has recorded significant progress in supporting Nigerian students pursuing higher education. Since the launch of the loan portal on May 24, 2024, a total of 771,769 students have registered on the platform, with 772,114 applications received. Out of these, 449,039 students have successfully benefited from the loan scheme, marking a major milestone in the government’s effort to make tertiary education more accessible.
The data reveals a remarkable 126% increase in the number of new registrants who succeeded in applying compared to the previous day, highlighting the growing awareness and uptake of the program. On the latest count, 2,714 new registrants and 3,425 successful applicants were added to the scheme, reinforcing the steady momentum of the initiative.
In terms of financial disbursement, the report shows that as of August 6, 2025, the scheme has paid out N47.6 billion directly to 218 educational institutions to cover tuition and other institutional fees. Additionally, an impressive N38.7 billion has been allocated as upkeep allowance directly to students, bringing the total loan disbursement to N86.3 billion.
This ambitious funding effort is a key component of President Bola Ahmed Tinubu’s Renewed Hope Agenda, designed to empower Nigerian youths by easing financial barriers to education.
The NELFund’s transparent portal and increased disbursement rate underscore the government’s commitment to ensuring that no qualified student is denied access to higher education due to financial constraints.
As the scheme continues to expand, the Nigerian Education Loan Fund remains focused on delivering on its promise to revolutionize educational funding and provide sustainable support for students nationwide.
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