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"Nigerian Education Loan Fund Disburses N2.5bn to 22,120 Students

The Nigerian Education Loan Fund (NELFUND) has announced that an additional 2,120 students have benefited from its student loan scheme, bringing the total number of beneficiaries to 22,120. According to a statement by NELFUND's spokesman, Nasir Ayitogo, the total amount disbursed to date is N2.5 billion, spread across multiple institutions.

The initiative aims to alleviate financial constraints and ensure that students can continue their education without interruption. So far, six institutions have received full payment of their institutional fees, covering over 20,000 students, with a total disbursement of N2,026,163,340. The remaining six institutions will receive their payments in the coming week.

Furthermore, NELFUND has allocated N442,400,000 for upkeep payments in July, benefiting all 22,120 students across the twelve institutions. This initiative demonstrates the federal government's commitment to supporting the overall well-being and academic success of Nigerian students.

NELFUND reiterated that disbursements are made in accordance with each institution's academic calendar, ensuring timely support for students. The Fund's Managing Director, Akintunde Sawyerr, emphasized the importance of transparency and accountability, highlighting the recent release of data supporting disbursements of student loans."