The Nigerian Education Loan Fund, NELFUND, says it has disbursed more than N206 billion to students across 270 institutions nationwide in one year.
The Fund disclosed that since its inception in May 2024, it has received 1,751,669 applications and approved 1,164,222, with funds disbursed to students.
It said N128.84 billion went to institutions for tuition while N77.45 billion was released to students for living expenses, ensuring that both academic and upkeep needs are met.
Speaking on the Fund, Managing Director, Akintunde Sawyerr, assured students that no eligible beneficiary would be barred from exams due to financial constraints.
In an Arise TV interview, he noted that the scheme provides interest-free loans with flexible repayment terms, aimed at removing financial barriers to higher education.
He revealed that the Fund has received over 969 new applications in its latest update, noting that Nigerian students have embraced the scheme to achieve their educational goals.
Eze Chidiebere Paul
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