Nigerian Students Loan Portal Now Live: How to Apply

 

Nigeria’s long-anticipated education loan scheme officially launched on Friday, May 24, 2024. Akintunde Sawyerr, the Managing Director and CEO of the Nigeria Education Loan Fund (NELFUND), announced that the initial phase of the scheme would support 1.2 million students from federal higher institutions. The subsequent phase will expand to include students from state universities in Nigeria.

 

To apply for the loan, students need the following:

- An admission letter from the Joint Admissions and Matriculation Board (JAMB)

- A National Identity Number (NIN)

- A Bank Verification Number (BVN)

- Completed application forms from the NELFUND website 

Despite the launch, students from private universities have expressed dissatisfaction over their exclusion from the scheme.

 

Step-by-Step Application Process for the Nigerian Student Loan Scheme

How to Apply for the Student Loan:

1. Visit [nelf.gov.ng](http://nelf.gov.ng)

2. Click on “Apply Now”

3. Click on “Get Started”

4. Confirm your nationality by clicking “Yes, I am a Nigerian”

5. Verify your educational information by selecting your school from a dropdown menu and entering your matric number

6. Click “Verify with JAMB” and enter your JAMB details. (If your NIN is not registered with JAMB, you can enter it for validation)

7. Create an account by entering your email address and password, then confirm the password and click “Create Account”

8. Check your email for a verification link and click it to complete the account creation process

How to Complete Your Profile:

1. Log in by clicking the “LOGIN” button

2. Enter your email address and password to log in

3. Click on “Proceedto Contact Details” and update your phone number, full residential address, state of residence, and local government area

4. Click “Proceed to Educational Details,” select your higher institution, and input your matric number

5. Click “Proceed to Account Details,” verify your BVN by entering it, select your bank name, and input your account number. Click “save changes” to complete your profile

Loan Application Process:

1. After logging in, click the “Request for student loan” button at the top right of the home or loans page screen

2. For an upkeep loan, check the relevant box and click “Continue”; for institutional charges only, just click “Continue”

3. Upload supporting documents. The admission letter is mandatory, while the student ID and institution invoice are optional. Check the policy and declaration box and click “Continue”

4. Review the loan overview, check the boxes for the terms & conditions and GSI Mandate, then click “Submit Application”

5. Click on the “loans” button to view the status of your application

Following these steps ensures that students can successfully apply for and manage their loans through the NELFUND portal.