The Nigerian Education Loan Fund has announced that total funds released under the student loan scheme have climbed to N161.97 billion.
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The disclosure was made in NELFUND’s weekly report covering December 29, 2025, to January 4, 2026, which was shared on its official X account on Sunday.
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According to the report, the fund received 17,507 fresh loan applications within the week, pushing the total number of approved applications since the scheme began in May 2024 to 1,326,008.
NELFUND stated that as of December 29, 2025, a total of 864,798 students in 263 tertiary institutions across the country had benefited from the loan programme.
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The breakdown showed that N89.94 billion was paid directly to schools for tuition and other institutional charges, while N72.03 billion was released to students as upkeep support.
The student loan scheme, signed into law by President Bola Tinubu in April 2024, provides interest-free loans to students in public tertiary institutions, with repayment expected after graduation and employment to ease access to higher education.
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