A University of Uyo (Uniuyo) student recently sparked an online buzz after sharing a photo of himself wearing a branded shirt emblazoned with the inscription “Thank you NELFUND” during his school sign-out ceremony.
The post quickly went viral, drawing widespread reactions from netizens. Many applauded the student for putting a relatable face to the Nigerian Education Loan Fund (NELFUND), with some urging that such visibility could encourage more students to take advantage of the federal loan scheme.
One user, @AyinAkwaibom, commented:
“They should advertise it regularly to get attention so a lot more students have access.”
Another user, @romeocza, added:
“I love it. Puts a face to the program. I know some people will be frowning now.”
Background
NELFUND is a federal initiative established under the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Act, 2024. The fund aims to provide financial support to Nigerian students pursuing higher education by removing financial barriers and ensuring that no qualified student is denied access to tertiary education due to lack of funds.
Eligible applicants must be enrolled in accredited Nigerian tertiary institutions, have their schools upload verified details to the NELFUND portal, maintain clean academic and legal records, and submit authentic documentation.
Loan repayment begins two years after completion of the National Youth Service Corps (NYSC). Graduates are required to repay 10% of their monthly salary or business profits if self-employed. Those unable to find employment must notify NELFUND every three months.
Since its launch in May 2024, NELFUND has disbursed ₦73.1 billion in student loans, including ₦38.26 billion for institutional fees and ₦34.85 billion in upkeep allowances. So far, 366,247 students across 206 tertiary institutions have benefited from the fund.
