The Nigerian Education Loan Fund (NELFUND) has announced student loan disbursements of N2.1 billion to 40 tertiary institutions in Nigeria, including five from the South-East region. This is the second phase of disbursements under the student loan scheme, aimed at providing every Nigerian student with a chance at quality education, regardless of their economic status.
In the South-East region, the beneficiary institutions are: Federal Polytechnic, Nekede, Imo State; Ebonyi State University; Abia State University; Michael Okpara University of Agriculture, Umudike; and Alex Ekwueme Federal University, Anambra State.
With this latest disbursement, the total number of beneficiary institutions has risen to 59, with an amount of N2.1 billion already released. The total budget proposed for the student loan scheme in the 2024 fiscal year now stands at N50 billion.
This expansion of the student loan scheme demonstrates NELFUND’s commitment to providing every Nigerian student with a chance at quality education. Earlier, they had disbursed N1.17 billion as institutional fees, covering 20,000 beneficiaries under this scheme.
