Nigerian Education Loan Fund disburses ₦206.29 billion to over 1.16 million students for tuition and living expenses since 2024 launch

The Nigerian Education Loan Fund (SELF) has announced that it has disbursed ₦206.29 billion to 1,164,222 student beneficiaries since the programme began, providing vital financial support for tuition and upkeep.

Also read: Kaduna College of Education Receives ₦31.3M Institutional Loan from NELFUND

The fund’s Daily Status Report as of March 9, 2026, shows strong participation from students nationwide.

Since the application portal opened on May 24, 2024, a total of 1,734,985 applications have been received, with over 1.16 million students already benefitting.

A total of 270 tertiary institutions have received support under the initiative.

Of the ₦206.29 billion disbursed, ₦128.84 billion was paid directly to institutions for tuition fees, while ₦77.45 billion was allocated to students as upkeep allowances to cover living expenses.

The report also notes a continued rise in applications, with 1,910 new submissions recorded in a single day, reflecting sustained demand and awareness of the programme.

The Nigerian Education Loan Fund was established by the Federal Government to help students in public tertiary institutions access higher education without being hindered by financial constraints.

The initiative, created under the Student Loans Act, allows beneficiaries to repay loans after graduation upon securing employment.

Also read: Cross River Alumni Propose Tax-Based Education Fund

Officials say the programme forms part of broader efforts to expand access to higher education and reduce the financial burden on students and their families, providing a lifeline to countless aspiring graduates across Nigeria