NELFUND disburses N303bn student loans to 850,000 beneficiaries in two years
By Joseph Erunke, Abuja The Nigerian Education Loan Fund (NELFUND) has disbursed more than N303 billion to about 850,000 Nigerian students within two years of operation, marking one of the Federal Government’s major interventions in expanding access to tertiary education.
He explained that NELFUND had paid institutional fees to 315 tertiary institutions, including federal and state universities, polytechnics and colleges of education, while eligible students receive a monthly upkeep allowance of N20,000.
Sawyerr said the programme, established under the Nigerian Education Loan Fund Act signed into law by President Bola Ahmed Tinubu on April 4, 2024, and launched on May 24, 2024, had significantly reduced the financial burden on students and their families.
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