ABUJA, Nigeria (VOICE OF NAIJA)- The Nigerian Education Loan Fund has announced that total disbursements under the student loan programme have risen to N161.97bn, according to its weekly report for the period between December 29, 2025, and January 4, 2026.
In a statement shared on its X account on Sunday, NELFUND said it received 17,507 fresh loan applications during the week, pushing the cumulative number of successful applications since the scheme was launched in May 2024 to 1,326,008.
The report showed that as of December 29, 2025, a total of 864,798 students in 263 institutions had benefited from the scheme.
READ ALSO: ADC Faults FG On Budget For Youth, Student Loan Scheme
Of the amount disbursed, N89.94bn was paid directly to institutions to cover tuition and other fees, while N72.03bn was released to students as upkeep allowances.
NELFUND was created to oversee the Nigeria Student Loan Scheme, which was signed into law by President Bola Tinubu in April 2024.
The scheme offers interest-free loans to students in public tertiary institutions to help cover tuition and living costs, with a focus on supporting learners from low-income households.
Beneficiaries are expected to repay the loans after graduation and once they secure employment, with the goal of easing financial constraints and expanding access to higher education.