By Anayo Akwitti
For many Nigerian students, going to university is no longer just about gaining admission. It is also about finding the money to remain there.
Tuition, accommodation, transport and food costs have continued to put pressure on students and their families, forcing some to combine their studies with jobs or depend on relatives to survive.
It is against this background that the Nigerian Education Loan Fund, NELFUND, has emerged as one of the Federal Government’s major interventions in higher education.
Established in April 2024, NELFUND provides interest-free loans to students in universities, polytechnics, colleges of education and approved vocational institutions.
NELFUND says the support covers institutional fees and upkeep, giving students access to funds for some of the basic costs of education. “By September 3, 2026, the FUND would have disbursed about ₦355.87 billion”.
Of this amount, ₦192.89 billion went towards fees for students in 319 institutions, while ₦162.98 billion was paid as upkeep allowances. The fund also said about 1.66 million applications had been processed.
Speaking with some students in the federal capital territory such as Ruth Okonta, the scheme is making a difference. “The financial support has provided some relief at a time when meeting the cost of education has become increasingly difficult”.
But she also wants NELFUND to address delays in verification and the payment of upkeep allowances.
That concern points to one of the biggest questions surrounding the scheme: is financial support useful if students cannot access it when they need it most?
The early stages of the programme were marked by difficulties, including delays in the submission of student data by institutions, verification challenges and problems with some institutions’ information technology systems.
A Lecturer Fidel Akor acknowledges the effort by the government but says challenges still remain.
For Tijani Sumaila, the scheme represents an opportunity that students and their families should take advantage of.
He urged parents and guardians to ensure their children access the support available through NELFUND.
Beyond the figures, the impact of the scheme is perhaps best measured in the everyday choices students have to make.
For a student struggling to pay rent, buy food or get to lectures, an upkeep allowance can mean the difference between attending class and staying at home.
For another, support with institutional fees may mean being able to continue a programme that might otherwise have been abandoned.
But beneficiaries however said access to the fund had remained an important part of the problem.
As more students seek help, NELFUND faces the challenge of ensuring that verification is faster, institutional records are accurate and payments reach beneficiaries without unnecessary delays.
The fund has already committed billions of naira to supporting students. The next test is whether the intervention can consistently reach those who need it, when they need it.
For millions of young Nigerians, the real measure of NELFUND will not be the amount disbursed, but how many students are able to stay in school, complete their education and build a future without being forced out by the cost of living.
Edited by Julian Osamoto
