The Digest:
The Nigerian Education Loan Fund (NELFUND) has disbursed N206.29 billion in student loans to 1,164,222 beneficiaries since the scheme's launch on May 24, 2024, according to the fund's Daily Status Report from March 9, 2026. A total of 1,734,985 students have applied for the loan scheme. Of the total disbursement, N128.84 billion has been paid directly to 270 institutions for tuition fees, while N77.45 billion has been disbursed as upkeep allowances to students. The fund reported 1,910 new applications (a 0.1% increase) compared to the previous day. The initiative, established under the Student Loans Act, aims to ensure financial constraints do not prevent qualified Nigerians from accessing higher education. Repayments are expected after graduation and employment. Private university students remain temporarily excluded due to high fees and funding constraints.
Key Points:
- N206.29 billion disbursed to 1.16 million students since May 2024.
- 1.73 million total applications received.
- N128.84 billion paid to 270 institutions for tuition.
- N77.45 billion paid directly to students as upkeep.
- Private university students excluded for now.
Sources: NELFUND Daily Status Report
