NELFUND Records 1m Student Loan Applications

The Nigerian Education Loan Fund (NELFUND) has announced that the student loan scheme has crossed one million applications on its official portal.

The NELFUND Director, Strategic Communications, Oseyemi Oluwatuyi, stated this in a press statement on Sunday.

She said the milestone comes barely one year after the programme’s launch on May 24, 2024, describing it as proof that the student loan initiative was gaining strong national traction and public trust.

According to NELFUND, over N116bn has so far been disbursed to students across universities, polytechnics and colleges of education in Nigeria, covering institutional charges and upkeep allowances.

The statement quoted the Managing Director of NELFUND, Akintunde Sawyerr, saying the development reflected the impact of the President Bola Tinubu’s Renewed Hope policy drive on access to higher education.

“Crossing the one-million mark represents more than data; it represents renewed hope for a generation of Nigerians determined to rise above financial barriers to education.

“It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda,” he said.