Over One Hundren and Ninety-two thousand students have benefited from the over Twenty Billion Naira student loan disbursed by the Nigerian Education Loan Fund.
The fund announced this in Abuja on Monday in a statement released by its management to address widespread misconceptions around the exact amount disbursed, stating that the report claiming a disbursement of 104 billion Naira is false and inaccurate.
“As of February 3, 2025, NELFUND has received a total of 364,042 student loan applications. So far, the Fund has disbursed a total of N20,074,050,000 for institutional fees, benefiting 192,906 students across various tertiary institutions,” the statement read.
The Fund stated that beyond school fee payments, students also benefit from financial support for students living expenses amounting to over 12 billion Naira.
“NELFUND has disbursed N12,818,960,000 to 169,114 students, each receiving a monthly stipend of N20,000,” the statement added.