NELFUND Launches Student Loan Application Portal for Federal Institutions

The Nigerian Education Loan Fund (NELFUND) has officially launched its student loan application portal for students in federal institutions across Nigeria. This initiative marks the beginning of the pilot phase of the student loan scheme.

Mr Nasir Ayitogo, the Media and Public Relations Lead of NELFUND, provided a detailed guide on how students can apply for the loan through the newly opened portal.

According to Ayitogo, interested students need to create an account on the NELFUND website by following a step-by-step process that includes verifying their educational information and creating login credentials.

Upon successful registration and account creation, students are required to complete their profile by updating their contact details, educational information, and providing their bank verification number (BVN) and bank account details.

Once the profile setup is completed, students can proceed to apply for the loan by clicking on the designated button on the portal. They will need to indicate whether they require an allowance in addition to tuition fees and upload necessary documents such as admission letters.

President Bola Tinubu initially introduced the student loan policy in June 2023 with the aim of providing interest-free loans to students. After several delays, NELFUND has finally opened the application and issuance portal on May 24 to kickstart the long-awaited scheme.