The Nigerian Education Loan Fund (NELFUND) has announced the successful disbursement of over ₦22 billion to more than 215,000 students across the country. This development comes as part of the federal government’s renewed efforts to improve access to higher education through a robust student loan scheme.

According to NELFUND, the funds are aimed at easing the financial burden on students and their families, while also boosting enrollment and retention in tertiary institutions. The disbursement covers students from federal universities, polytechnics and colleges of education, with plans to extend support to state-owned institutions in the coming phases.

Officials from the fund emphasized that the initiative is designed not only to provide financial aid, but also to promote equity and opportunity in Nigeria’s educational system.

“This marks a major milestone in our commitment to ensuring that no Nigerian student is denied access to quality education due to financial limitations,” a NELFUND spokesperson said.

Applications for the next phase of disbursements are expected to reopen soon, with an expanded eligibility framework and streamlined processes for faster approvals.