Labour & Social · In force

Students Loans (Access to Higher Education) Act 2024

Amended version of the original 2023 Act — interest-free loans for undergrad/HND students at federal and state institutions, administered by NELFUND.

Signed

2024-04-03

Assented by

Tinubu →

Status

In force

01 Background

The 2024 amendment fixed implementation flaws in the original June 2023 Act. It removed the household-income cap (originally ₦500K/year — far too low), expanded coverage to private universities meeting criteria, and clarified the repayment regime (2 years after NYSC, automatic deduction from salary). The Nigerian Education Loan Fund (NELFUND) administers the programme. By mid-2026, disbursements have reached ~1 million students.

02 Key provisions · 6

§ 01

Interest-free loans for tuition + upkeep

§ 02

Available to undergrad and HND students at federal/state/qualifying private institutions

§ 03

Household-income cap removed (amended in 2024)

§ 04

Repayment begins 2 years after NYSC

§ 05

Repayment via automatic salary deduction (10% of monthly basic)

§ 06

NELFUND as administering agency

03 What changed in practice

→

~1 million students reached by mid-2026

→

Critical for retention after tuition hikes following federal subsidy removal

→

First disbursements May 2024

04 Who it affects

Undergraduate studentsHND studentsUniversitiesNYSC corps members

Official source

NELFUND

Primary regulator / sponsoring institution ↗

Use this law on the site

See education infrastructure

Cross-linked tool that operationalises this Act

05 What it repealed / replaced

Students Loans Act 2023 (substantive amendments)