The Nig. Educational Loan Fund said on Tuesday that it would disburse N850 million in fees to colleges on Wednesday.
This is in addition to the N1.7 billion that has already been disbursed to around 20,000 pupils.
The Fund's Managing Director, Akintunde Sawyer, announced this during a current press event in Abuja.
"The sum of N850 million would be transferred from NELFUND's account today to institutions. This is in addition to the N1.7 billion naira disbursed previously.
Previously, Sawyer disclosed that the Fund had paid institutional tuition to 20,000 students through their universities.
He also stated that a total of 260,000 loans, including institutional fees and maintenance, had been granted.
No fewer than 1.2 million pupils are projected to benefit from President Bola Tinubu's flagship plan.
The President approved N35bn for the take-off of the scheme after signing the law backing the scheme on April 3.
