Education in Nigeria just got a big boost! In one year, the Nigerian Education Loan Fund (NELFUND) gave out over ₦56.85 billion in student loans. This money helped more than 298,000 students go to school without worrying about fees.

This is great news for students and families across the country. Let’s break it down so everyone can understand what this means and why it matters.

What Is NELFUND?

NELFUND stands for the Nigerian Education Loan Fund. It was created by the government to help students pay for school. Many students in Nigeria find it hard to pay for tuition, books, or accommodation. This loan fund was designed to change that.

Why Was NELFUND Created?

• Make education more affordable
• Help smart and hardworking students stay in school
• Support low-income families
• Build a stronger future for Nigeria

How Much Was Given?

₦56.85 Billion in One Year!

That’s a lot of money! In just one year, ₦56.85 billion was given out as loans. This money helped 298,124 students continue their studies in public universities, polytechnics, and colleges.

That’s almost 300,000 young people who are now one step closer to achieving their dreams.

Who Got the Loans?

Students From Public Schools

The loans were given to students in:

• Federal universities
• State universities
• Polytechnics
• Colleges of Education

To get the loan, students had to:

• Be in a public school
• Show financial need
• Keep up a good academic record
• Be registered with a valid student ID

What Did the Money Cover?

• Tuition fees
• Accommodation
• Books
• Living expenses (in some cases)

This allowed students to focus on their education without worrying about money. No more missing classes because of unpaid fees!

How Did NELFUND Send the Money?

Safe and Direct Transfers

• NELFUND worked with the Central Bank of Nigeria (CBN)
• Payments were made directly to school accounts
• Students had to register using their NIN
• Applications were checked for accuracy

What Are Students Saying?

Real Stories, Real Impact

“I was going to drop out because my parents couldn’t afford my school fees. This loan saved my education.” – Maryam, ABU Zaria

“Now I can buy my textbooks and live on campus without stress. Thank you, NELFUND!” – Tunde, University of Lagos

What Challenges Did NELFUND Face?

• Application issues online
• Lack of awareness
• Some schools delayed records
• Website traffic problems

NELFUND is already working on fixes and upgrades for a better experience.

What About Repayment?

No Interest, Easy Payment After School

Repayment begins only after graduation and when the student starts earning. No interest is charged — you pay back only what you borrowed.

What Happens Next?

• Expand to rural areas
• More student coverage in 2025
• Possibly include private school students
• Faster digital fintech system

How Can You Apply?

1. Visit the official NELFUND website
2. Register using your NIN and Student ID
3. Fill out the application form
4. Upload needed documents

Tips:

• Ensure your school records are accurate
• Use a valid email/phone number
• Follow up after submitting

Final Words

This is a major win for education in Nigeria. Over 298,000 students have already benefited from the NELFUND loan, and many more will join.

Help us spread the word — education is a right, not a luxury!

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