Over 1 Million Nigerians Enroll in Student Loan Scheme, Nelfund Reports Major Milestone

The Nigerian Education Loan Fund (Nelfund) has announced that over 1 million individuals have enrolled in the student loan scheme, surpassing expectations. Launched less than a year ago, the program has disbursed ₦116 billion to students in universities, polytechnics, and colleges nationwide, covering tuition fees and living expenses.

The initiative, part of Bola Tinubu's administration's social intervention efforts, aims to reduce financial barriers and enhance inclusivity in higher education. Nelfund emphasizes transparency, non-discrimination, and equal educational opportunities for all qualified Nigerian students, regardless of background.

This milestone signifies a positive shift in higher education financing in Nigeria, promoting socio-economic mobility for young Nigerians.