Nigerian Education Loan Fund: What It Is and How It Affects Students

When you hear Nigerian Education Loan Fund, a government-backed program offering repayable loans to Nigerian students in public universities. Also known as TETFund Loan Scheme, it was created to remove money as a barrier to higher education in Nigeria. Before this fund, thousands of bright students dropped out of school every year because their families couldn’t afford tuition, books, or even transport to campus.

The fund doesn’t give free money—it gives loans that students pay back after graduation, usually starting two years after they finish school. This means it’s not charity; it’s an investment. The government partners with banks and the TETFund, the Tertiary Education Trust Fund, which manages education funding and disburses grants and loans to institutions and students to track who gets money, who’s repaying, and who needs help. It’s one of the few systems in Africa that actually links education access to future earnings, not just parental income.

But it’s not perfect. Some students still don’t know how to apply. Others get stuck in paperwork loops. And there’s been confusion over whether the loan covers only tuition or also living costs. The rules changed in 2023 to include accommodation and learning materials, but many universities still don’t update their advice. The Nigerian students, young people enrolled in public universities across Nigeria who rely on this fund to complete their degrees who’ve used it say the real win isn’t just the money—it’s the chance to finish without selling their phones or skipping meals.

What you’ll find here are real updates on who’s getting loans, where the money’s going, and what’s changed since the fund started. You’ll see stories from students in Kano, Lagos, and Port Harcourt who made it through because of this program. You’ll also see the pressure points—delays in payments, schools that don’t know the rules, and the growing number of graduates wondering how to pay back without wrecking their credit. This isn’t just policy talk. It’s about people trying to get an education in a country where that’s still a fight.