The Nigerian Education Loan Fund (NELFUND) says applications for the federal student loan programme have exceeded one million, marking a major milestone less than a year after the scheme was launched.
In a statement issued on Sunday, November 2, the agency’s Director of Strategic Communications, Oseyemi Oluwatuyi, said the surge in applications highlights the rapid expansion and impact of the initiative, which began on May 24, 2024.
NELFUND disclosed that over ₦116 billion has already been disbursed to students in universities, polytechnics, and colleges of education nationwide, covering tuition and living allowances.
Managing Director Akintunde Sawyerr described the achievement as a strong endorsement of President Bola Tinubu’s Renewed Hope agenda, which seeks to broaden access to higher education and support young Nigerians through inclusive funding opportunities.
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