The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N53.03 billion to students under the national student loan scheme, covering both institutional fees and upkeep allowances.
According to a breakdown shared on NELFUND’s official X handle (formerly Twitter), N23.17 billion was allocated for student upkeep allowances, while N29.86 billion went toward institutional fees.
As of the latest update, 561,174 students have registered for the loan, with 497,717 having completed their applications—representing an 88% success rate among registrants.
Looking ahead, NELFUND projects a total disbursement of N165.03 billion, with N112.15 billion expected to go toward student upkeep and N52.87 billion for institutional fees.
Despite the progress, some beneficiaries have raised concerns. A few students reported not receiving their upkeep allowances for nearly eight months after updating their bank details and have appealed to NELFUND for prompt resolution.
