The long-awaited Nigerian education loan scheme commenced on Friday, May 24, 2024. The Nigeria Education Loan Fund (NELFUND) managing director Akintunde Sawyerr announced that the launch portal went live on this date. The scheme’s first phase will cover 1.2 million students in federal higher institutions, with state universities to be included in the next phase.
Requirements:
To apply for the student loan, you will need:
- Admission letter from Joint Admissions and Matriculation Board (JAMB)
- National Identity Number (NIN)
- Bank Verification Number (BVN)
- Completed application forms from the NELFUND website
How to Apply Step-by-Step:
- Visit nelf.gov.ng
- Click “Apply Now” then “Get Started”
- Answer questions to confirm Nigerian citizenship
- Verify your educational information by selecting your school and providing your matric number
- Click “Verify with JAMB” and enter your JAMB details
- Create an account with email and password
- Verify your email to complete account setup
Completing Your Profile:
- Log in with your email and password
- Proceed to update contact details like phone, address, state, LGA
- Update educational details like institution and matric number
- Verify BVN, bank name, and account number
Loan Application Process:
- Click “Request for student loan”
- Select loan type – tuition fees only or with upkeep allowance
- Upload admission letter (compulsory) and other documents
- Agree to terms, conditions and direct debit mandate
- Submit application and track status on the loans page
The portal is now open for applications from federal university students. Those in state and private universities should watch for updates on their inclusion in subsequent phases.
