NELFUND: Step By Step How To Apply For Students Loan

The Nigerian Education Loan Fund (NELFUND) has launched the application portal for the first phase of the student loan scheme for students attending federal institutions across the country.

The loan application website went live early Friday, initiating the pilot phase for students of federal tertiary institutions.

Nasir Ayitogo, the Media and Public Relations Lead of NELFUND, provided detailed steps for applying for the loan. The steps are as follows:

Creating an Account

1. Visit www.nelf.gov.ng
2. Click on “Apply Now”
3. Click on “Get Started”
4. Answer the questions on the page by clicking “Yes, I am a Nigerian”
5. Verify your educational information by selecting your school from a dropdown menu and providing your matric number to check if your school has uploaded your details.
6. Click “Verify with JAMB” and enter your JAMB details. (Students whose NIN has not been registered with JAMB will have a field to enter their NIN for validation.)
7. Create an account by entering your email address, password, and confirming your password, then click “Create Account.”
8. Click the email verification link sent to your email.

This concludes the account creation process.

How to Complete Your Profile

After successful registration, log in by clicking the “LOGIN” button.

Completing Your Profile

1. Enter your email address and password to log in.
2. Click on the “Proceed to Contact Details” button.
3. Update your contact details with your current phone number, full residential address, state of residence, and local government area of residence, then click “Proceed to Educational Details.”
4. Update your educational details by selecting your higher institution and entering your matric number, then click “Proceed to Account Details.”
5. Verify your BVN by entering your BVN, selecting your bank name, and entering your account number. Click “Save Changes” to complete your profile.

Loan Application

1. Click on the “Request for Student Loan” button at the top right of the screen on the home or loans page after logging in.
2. If you want an upkeep loan, click the checkbox and then click “Continue.” If you only need the institutional charge, click the “Continue” button.
3. Upload supporting documents. The admission letter is mandatory, while the student ID and institution invoice are optional. Click the checkbox for the policy and declaration, then click “Continue.”
4. Read the loan overview and click the checkboxes for both the Terms & Conditions and GSI Mandate, then click “Submit Application.”
5. Click on the “Loans” button to view the status of your application.

The News Agency of Nigeria (NAN) reports that President Bola Tinubu initially enacted the student loan policy in June 2023 to provide interest-free loans to students. Although the scheme was supposed to start in October 2023, it was deferred until April 2024. NELFUND has now officially opened the loan application and issuance portal on May 24, which is currently in operation.