You have no excuse to drop out of a tertiary institution in Nigeria, especially due to a lack of funds.
If you or your parents cannot afford the fees, apply for scholarships, bursaries, or grants. And if you do not get any, you can apply for the Nigerian Education Loan Fund (NELFUND).
The NELFUND Student Loan covers your tuition fees and provides a monthly “upkeep” to cover your living allowances. So far, over 600,000 Nigerian students from across universities, polytechnics, and colleges of education have benefitted from this opportunity.
Applications are now open for the 2025/26 academic session, and this article will delve into the details of the program, as well as the step-by-step guide on how to apply.
What is the Nigerian Education Loan Fund (NELFUND)?
The Federal Government Student Loan is a financial assistance program that is designed to help Nigerian students afford the cost of tertiary education.
The scheme provides loans to qualified Nigerians for tuition, fees, charges, and upkeep during their studies in approved tertiary academic institutions and vocational and skills acquisition institutions in Nigeria.
Why You Should Apply for NELFUND
NELFUND is a lifesaver for many Nigerian students. It has been designed to be less of a burden to the beneficiaries; Here are the top reasons why you should apply;
- The loan is interest-free.
- The scheme is aimed at empowering Nigerians to pursue their academic aspirations.
- The loan scheme will reduce financial stress on students and families.
- Equal access to higher education for all eligible candidates.
- The application process is simple and easy; you can finish within 15-30 minutes
- The payment of student loans begins two years after the NYSC.
Although the Federal Government Student Loan is open to students of Nigerian tertiary institutions, certain criteria have to be met before you can be eligible to apply;
Join any of these WhatsApp Groups to receive Scholarship alerts on WhatsApp
How to apply for NELFUND Student Loan in Nigeria
Here is a step-by-step guide on how to apply for the student Loan on the NELFUND Portal;
STEP 1: CREATING AN ACCOUNT
- Visit the Nigerian Education Loan Fund website.
- Click “Apply Now” and proceed to the NELFUND Portal.
- Click on “Get Started”
- Answer the questions on this page continue, by clicking on “Yes, I am a Nigerian”.
- Verify your educational information. You would be required to select your school from a dropdown and provide your matric number to check if your school has uploaded your details.
- Click the “Verify with JAMB” and enter your JAMB details on the screen.
- Create an account by entering your Email address, Password and Confirm Password in the fields provided and click “Create Account”.
- Click the email verification link sent to your email.
MORE SCHOLARSHIPS ABROAD | CHECK NOW
Japan Government MEXT Teachers Training Scholarship 2027 | Step-by-Step Process
Canada Graduate Research Scholarship 2027 (Doctoral) | Step-by-Step Guide
University of Texas Scholarship in USA 2026 | Fully Funded
STEP 2: COMPLETING YOUR PROFILE
After successful registration, log in by clicking the “LOGIN” button.
- Enter your email address and password to Login.
- Click on the “Proceed to Contact Details” button.
- Update contact details with your current Phone Number, Full Residential Address, State of Residence, and Local Government Area of Residence.
- Update your educational details by selecting your Higher Institution and inputting your Matric Number, then click “Proceed to Account Details”
- Verify your BVN by entering your BVN, select your Bank Name, and enter your Account Number. Click “Save Changes” to complete your profile.
STEP 3: LOAN APPLICATION
- Click on the “Request for Student Loan” button at the top right of the screen on the home or loans page after logging into the application.
- If you want an upkeep loan, click the check box, and click Continue, if all you need is the institutional charge, click the “Continue” button.
- Upload supporting documents (Student ID Card and Admission Letter).
- The admission letter is compulsory while the Student ID and Institution Invoice are optional.
Click the checkbox for the policy and declaration and click “Continue” - Read the loan overview and click the checkboxes for both the Terms & Conditions and GSI Mandate then click “Submit Application”
Frequently Asked Questions (FAQs) About NELFUND Student Loan
What are the Requirements for the NELFUND Student Loan in Nigeria?
- If you are a Nigerian student enrolled in a federal or state university, polytechnic, or college of education, you are eligible.
- Also, you must not have defaulted on any previous loans or been found guilty of exam malpractice, felony, or drug offenses.
Are there any documents to upload during the application process?
- Yes. The two documents required are; Scanned admission letter for new students (compulsory), and scanned Student Identification Card (optional).
Do I need a guarantor to apply for the loan?
- No, the student loan has no requirement for a guarantor.
When is the loan due for repayment?
- The loan is due for repayment 2 years after the completion of NYSC.
What if I don’t get a job after two years post-NYSC?
- You will need to notify NELFUND by sworn court affidavit every 3 (three) months after two years post-NYSC if you are still unable to gain employment.
How will the loan be repaid?
- Two years after your NYSC, ten percent (10%) of the your salary will be deducted and debited to the fund by the employer. If you are self-employed , you are required to remit 10% of your monthly profit to the Fund.
What are the consequences of defaulting on the loan?
- Deliberate default could result in a three-year jail term, legal action, and potential damage to your credit score.
Share this update with friends and family if you find it helpful.
Visit HERE to check out many more Scholarship opportunities.
Receive Scholarship Updates through our Social Media Channels:
- WhatsApp: Scholarship Region WhatsApp
- Facebook: Scholars Region
- Twitter: @scholarsregion
- Telegram: Scholarship Region
