The Nigerian Education Loan Fund (NELFUND) has debunked reports claiming that over N104 billion has been disbursed to 600 beneficiaries under the Student Loan Scheme.
In a statement, NELFUND revealed that as of February 3, 2025, it has received 364,042 student loan applications. The organization has disbursed N20.074 billion for institutional fees, benefiting 192,906 students across various tertiary institutions.
Additionally, NELFUND has disbursed N12.818 billion for upkeep, supporting 169,114 students with a monthly stipend of N20,000.
The management of NELFUND expressed appreciation for the support of President Bola Ahmed Tinubu in making higher education accessible to deserving Nigerian students.
NELFUND reiterated its commitment to transparency and efficiency in managing the student loan scheme, promising to provide accurate updates as disbursements progress.
