The Nigerian Education Loan Fund has confirmed that the Federal Government student loan programme has now received more than one million applications from students across the country.
The milestone was recorded less than one year after the scheme officially commenced in May 2024, showing widespread acceptance of the initiative among Nigerian students seeking financial support for their education.
In a statement released on Sunday, the Director of Strategic Communications at NELFUND, Oseyemi Oluwatuyi, described the development as a strong indication of national confidence in the programme. According to him, the scheme continues to gain momentum as more institutions and students are being captured in the system to ensure no one is left behind.
The statement also revealed that over one hundred and sixteen billion Naira has so far been disbursed to eligible students across universities, polytechnics and colleges of education nationwide. The funds cover school fees and upkeep allowances to ease the financial burden of learning. “Crossing the one million mark represents more than data. It symbolises renewed hope for a generation of Nigerians determined to rise above financial barriers to education,” NELFUND Managing Director Akintunde Sawyerr said.
The agency maintained that the loan programme is open to all qualified students irrespective of background or location and is designed to promote fairness and equal access to higher education. It stressed that the initiative is non discriminatory and cuts across all religious and ethnic lines to foster unity and encourage national development.
NELFUND assured students and parents that the loan application system will continue to be improved for transparency and efficiency. It also appealed to students who are yet to apply to do so through the official online platform, noting that the scheme remains a long term investment in the nation’s future workforce and intellectual capacity.
The agency further reaffirmed its commitment to ensuring that no Nigerian student is denied access to higher learning due to financial constraints. It added that more sensitisation will be carried out in tertiary institutions to guide new applicants and provide clarity on repayment procedures after graduation.