The Nigerian Education Loan Fund (NELFUND) provides interest-free loans to students in public tertiary institutions across Nigeria. It was created under the Students’ Loan Act 2024 to make higher education accessible to more young people.
This guide explains eligibility, the application process, loan coverage, repayment, and common mistakes students should avoid.
Who Can Apply for NELFUND?
Not every student qualifies for the loan. To be eligible:
- You must study in a public university, polytechnic, or college of education.
- You need an admission letter and a valid JAMB registration number.
- If you are already in school, you must provide your matriculation number.
- You also need a valid NIN (National Identification Number) and BVN (Bank Verification Number).
- Finally, your institution must be registered on the NELFUND system.
For more admission tips, see our guide on JAMB 2025 Admission Deadlines.
Documents You Need
Before applying, gather the right documents. Missing or wrong uploads delay approval.
- Admission letter.
- JAMB number and matriculation number.
- NIN and BVN.
- A passport photo.
- Updated contact details (email and phone number).
In addition, make sure your name and date of birth are the same across all documents.
How to Apply Step by Step
Applying for the NELFUND loan is simple if you follow these steps:
- Visit the official NELFUND portal.
- Create an account and log in.
- Select Student Loan Application.
- Enter your details carefully and upload documents.
- Submit your application and save the application ID.
- Check your email regularly for updates.
Also read: Mandatory Re-uploading of O’Level Results to avoid other admission delays.
What the Loan Covers
The loan helps students in two major ways.
Tuition Fees
NELFUND pays tuition directly to your institution. This ensures your school fees are cleared on time.
Upkeep Allowance
You may also get an upkeep allowance for living costs. This is paid in instalments directly to your bank account.
As a result, you can study with less financial pressure.
Verification and Approval
After submission, NELFUND verifies your details. Your school confirms your student status, and your identity is checked against national databases.
If successful, tuition is sent to your school and upkeep is sent to your account.
Repayment Terms
Repayment is flexible and fair.
- When: You start two years after NYSC.
- Employed: You repay 10% of your monthly salary.
- Self-employed: You repay 10% of your profit.
- Unemployed: Notify NELFUND formally to get a grace extension.
- Early repayment: Allowed anytime without penalty.
For more money tips, check our article on How to balance school work and side hustles as a Nigerian student.
Common Mistakes Students Make
Many students delay their application or upload incomplete documents. Others use names that don’t match their JAMB or WAEC details. These errors slow down approval.
Therefore, apply early, check your documents twice, and ensure consistency across all platforms.
Final Thoughts
The NELFUND student loan gives Nigerian students a lifeline. It pays tuition, provides upkeep, and allows flexible repayment without interest.
To benefit fully, apply early, upload the right documents, and keep your details correct. In conclusion, NELFUND is a chance to study without the constant worry of school fees.
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