NELFund Opens Portal For Students Loan Application – How To Apply

The Nigeria Education Loan Fund (NELFund) has opened its portal for students to apply for loans.

Only students from federal government institutions can apply, with those from state institutions joining later.

Earlier this week, NELFund’s Managing Director, Mr. Akintunde Sawyerr, explained that applicants need an admission letter from the Joint Admissions and Matriculation Board (JAMB), a National Identity Number (NIN), a Bank Verification Number (BVN), and some personal and academic details.

He said that the loan targets 1.2 million students in public tertiary institutions, providing financial help for fees and stipends.

“The NELFUND Student Loan Application Portal is now LIVE! Apply today to secure the financial support you need for your education. Visit http://nelf.gov.ng to get started,” NELFUND disclosed this in a post on Friday.

How To Apply For Student Loan

Creating an Account:

1. Visit www.nelf.gov.ng
2. Click on “Apply Now”
3. Click on “Get Started”
4. Confirm you are Nigerian by clicking “Yes, I am a Nigerian”
5. Verify your educational information by selecting your school and providing your matric number
6. Click “Verify with JAMB” and enter your JAMB details
7. Create an account with your email and password
8. Verify your email using the link sent to you

Completing Your Profile:

1. Log in with your email and password
2. Update your contact details
3. Update your educational details with your institution and matric number
4. Verify your BVN, select your bank, and enter your account number

Applying for the Loan:

1. Click “Request for Student Loan” after logging in
2. Choose if you want an upkeep loan or just the institutional charge
3. Upload required documents like the admission letter
4. Agree to the terms and submit your application
5. Check the status of your application by clicking “Loans”

Approved applicants will receive their loans within 30 days.

The student loan policy, initiated by President Bola Tinubu in June 2023, aims to provide interest-free loans to students.

Though it was delayed from its original October 2023 start, it officially began accepting applications on May 24, 2024.

KanyiDaily recalls that in June 2023, President Bola Tinubu signed Student Loan Bill into law for Nigerian students.