The Nigerian Education Loan Fund (NELFUND) says over 396,000 students have so far benefited from the federal government’s student loan scheme since the launch of its loan portal on May 24, 2024.
According to the latest daily status report released on July 28, 2025, a total of 698,094 students have registered on the portal, out of which 680,948 have successfully applied for loans.
Of this number, 396,252 students have received financial support through the scheme.
The report also shows a rise in daily engagement, with 1,206 new successful registrants and 1,572 new successful applicants recorded in the previous 24 hours.
As of July 14, 2025, the fund has disbursed ₦77.03 billion in total student loans.
This includes ₦41.7 billion in tuition fees paid directly to 210 beneficiary institutions, and ₦35.3 billion in direct upkeep allowances to students.
NELFUND described the disbursement as a milestone achievement in line with the Renewed Hope Agenda of President Bola Tinubu, aimed at making higher education more accessible to Nigerian students.
