The Nigeria Education Loan Fund (NELFUND) has confirmed that the Federal Government’s student loan programme remains fully active, with more than 1.38 million Nigerian students already benefiting from the initiative introduced under President Bola Ahmed Tinubu’s administration.
The latest figures released by the Fund showed that loan disbursements have now exceeded N242.4 billion, reflecting the growing reach of the programme across tertiary institutions nationwide.
The development comes amid increasing public interest in the future of the scheme, particularly following online misinformation and speculation suggesting that the programme had been suspended. However, recent disbursement records and ongoing application processing confirm that the initiative remains operational and continues supporting students across Nigeria.
Tinubu’s Nigeria Education Loan Fund Beneficiaries on the Rise
According to NELFUND’s latest daily status report, a total of 1,388,592 students have so far benefited from the programme since its launch, while overall applications have climbed to more than 1.77 million nationwide.
The student loan scheme beneficiaries figure represents one of the largest education financing interventions in Nigeria’s recent history, particularly within the public tertiary education sector.
NELFUND disclosed that institutional fee payments to beneficiary schools had reached over N157.4 billion, while student upkeep allowances accounted for more than N84.9 billion. Combined disbursements now stand at approximately N242.4 billion.
The Fund also confirmed that disbursements have already been made to 288 tertiary institutions across the country, covering both tuition obligations and monthly upkeep support for eligible students.
NELFUND Remains Fully Operational
Recent clarifications by NELFUND officials indicate that the scheme remains active despite repeated circulation of fake notices and misleading online claims.
In April 2026, the Fund publicly debunked reports alleging suspension of the programme and also warned students against fraudulent registration portals impersonating the official loan platform.
The continued rise in approved applications and disbursement figures further confirms that processing activities are ongoing under the initiative signed into law by President Tinubu through the Student Loan (Access to Higher Education) Act, 2024.
The programme provides interest-free loans covering tuition fees and monthly upkeep allowances for students enrolled in approved tertiary institutions across Nigeria.
Nigeria Education Loan Fund Seen as Major Relief for Students
Education stakeholders say the scheme has become a major source of financial relief for students struggling with rising tuition costs and economic pressure affecting many households nationwide.
The beneficiaries of the Nigeria Education Loan Fund continue to increase as more students apply for support to fund their education without the burden of immediate repayment.
Under the structure of the programme, repayment is expected to begin two years after completion of the National Youth Service Corps programme, allowing graduates time to stabilise financially before repayment obligations commence.
University administrators and education advocates have also acknowledged the impact of the initiative in improving school retention rates and helping financially challenged students remain in school.
Demand For NELFUND Continues to Grow
The student loan initiative has witnessed sustained demand since applications opened nationwide.
Several institutions have already confirmed receiving billions of naira in disbursements on behalf of their students, while thousands of additional applications continue undergoing processing.
NELFUND officials previously stated that weak IT systems in some institutions and varying academic calendars have occasionally slowed processing timelines, but they maintained that the programme remains on course.
Analysts believe the growing acceptance of the initiative reflects increasing public confidence in structured education financing as an alternative to traditional out-of-pocket funding for higher education.
Attention Shifts to Sustainability and Expansion
As the number of beneficiaries continues rising, conversations are also shifting toward the long-term sustainability and expansion of the programme.
Education experts have called for stronger digital infrastructure, transparency in disbursement processes, and improved collaboration between institutions and NELFUND to ensure faster loan processing and accountability.
For many students and families, however, the programme has already become one of the most significant education support interventions introduced in recent years.
With over 1.38 million beneficiaries already recorded and applications still ongoing, NELFUND’s latest figures suggest that the Tinubu administration’s student loan initiative remains active and continues expanding its reach across Nigeria’s tertiary education system. You can also apply by visiting their official application portal.
