According to the Nigerian Education Loan Fund, 1,388,592 students have benefited from its student loan program thus far. Since the fund's establishment, 1,778,854 applications have been received, according to the daily status report that was made public on Monday.
According to the data, there were 353 more applications than the day before, but the percentage change in new applications was 0.0%.
According to NELFUND, "as of April 2, 2026, disbursements had been made to 288 beneficiary institutions, with a total of N157,455,283,093.25 paid as institutional fees."
"N84,945,632,200.00 had been disbursed as upkeep allowances to students, bringing the total loan disbursed to N242,400,915,093.25," the statement continued.
President Bola Tinubu signed the Student Loan (Access to Higher Education) Act, 2024, which established the interest-free NELFUND loan.
Tuition and monthly maintenance allowances are covered, and repayment will commence two years after the completion of the National Youth Service Program.