Student Loan: NELFUND Opens Portal, Releases Guidelines For Application, Receives 3,764 Applicants

Federal Government of Nigeria has released guidelines for students seeking to apply for the loan facility as government officially opened the portal  for student loan applications this Friday, May 24, 2024.  

Already, no fewer than 3,764 students from 126 institutions have sent in applications for the student loan as of 7:27pm on Friday, data obtained from the Nigerian Education Loan Fund has revealed.

No funds have been disbursed yet as applications are currently being reviewed.

Media and Public Relations Lead for the Nigerian Education Loan Fund (NELFUND), Nasir Ayitogo disclosed this  in a statement in Abuja, saying students can apply by following the released guidelines for the student loan 

Students can now apply for the loan on the portal,by following strictly the released guidelines as announced by NELFUND . 

The student loan provides credit facilities for tuition fees and upkeep at recognized higher education and vocational training institutions within Nigeria.   

The first phase of disbursement according to NELFUND, is strictly for students from federal Tertiary Institutions 

NELFUND says challenges being experienced by students applying for the loan facility via the portal have been addressed 

“If your school is not on the list of Institutions; Contact your ICT department to reach out to NELFUND. If your JAMB number is not verifying; contact your school to ensure your admission is supported by JAMB.

If you are a student from any state owned institution who is trying to apply; hold on for now, rollout phase starts with only federal institutions.

“If you can’t see any institution in the dropdown list; please check your internet connection and refresh your browser.

“If you are not able to verify your account via email; ensure that you are entering the correct email address.

“If your matriculation number cannot be verified on the portal; contact the ICT department in your school to upload your records to the Students Verification System (SVS).”

The loan website became active some minutes past 12 am on Friday.

Below are step-by-step ways to apply for a student loan according to NELFUND:

Step 1: visit nelf.gov.ng 

Step 2: Click on the “Apply Now” 

Step 3: Click on “Get Started” 

Step 4: Answer the questions on this page to continue by clicking on “Yes, I am a Nigerian”  

Step 5: 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.  

Step 6: Click the “Verify with JAMB” and enter your JAMB details in the screen. 

(Students whose NIN has not been registered with JAMB will have an input field where they can enter their NIN for validation.) 

Step 7: Create an account by entering your email address and password. You will need to confirm the password in the fields provided and click “Create Account.” 

Step 8: Click the email verification link sent to your email. This concludes the process of creating an account. 

HOW TO COMPLETE YOUR PROFILE  

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

Step 1: Enter your email address and password to Login. 

Step 2: Click on the “Proceed to Contact Details” button. 

Step 3: Update contact details with the current information of your phone number, full residential address, state of residence and local government area of residence. Then click “Proceed to Educational Details.” 

Step 4: Update your educational details by selecting your higher Institution, and inputting your matric number. Then click “Proceed to Account Details.” 

Step 5: Verify your BVN by entering your BVN, select your bank name and enter your account number. Click “save changes” to complete your profile. 

LOAN APPLICATION  

Step 1: 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. 

Step 2: 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. 

Step 3: Upload supporting documents. The admission letter is compulsory but the student ID and institution invoice are optional. 

Click the checkbox for the policy and declaration and click “continue.” 

Step 4: Read the loan overview and click the checkboxes for both the terms & conditions and GSI Mandate then click “Submit Application” 

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