The federal government under the Nigeria Education Loan Fund (NELFund) has disbursed the sum of eight hundred and forty four thousand (844,000) to 8 students of the Kebbi State College of Nursing Sciences, Birnin Kebbi.
The disbursement was made on March 11, 2025.
The government said the move marks another step toward ensuring that students have the financial support they need to pursue their education.
The fund, aimed at easing the financial burden of tuition fees, was created to address the shortcomings of the previous Student Loan Act of 2023, which faced challenges related to governance, management, loan purposes, eligibility criteria, application methods, repayment provisions, and loan recovery.
The Fund has so far disbursed a total of N45.1 billion in student loans across the country since its inception in May 2024 to March 2025.
According to the update, a total of 525,936 students have registered on the loan platform, with 445,015 applicants successfully applying for financial assistance. This represents an 84% success rate for student loan applications under the scheme.
Despite the significant approval of N147.9 billion in funds, the actual disbursements as of March 25, 2025, was N45.1 billion.
NELFUND has also released N29.86 billion for institutional fees, while N15.23 billion was disbursed as upkeep allowances.
There has also been a sharp increase in the number of applicants, with a 192% rise in new registrants who succeeded in their applications after March 25, 2025.
