ABUJA, NIGERIA – The Nigerian Education Loan Fund (NELFUND) has officially opened the application portal for the first phase of its student loan scheme, targeting students from federal institutions nationwide. The loan application website went live early Friday, welcoming students of federal tertiary institutions to apply for financial aid.

Nasir Ayitogo, NELFUND’s spokesperson, provided a detailed guide on the application process. Here are the steps for students to create an account and apply for the loan:

How to Create an Account

1. Visit the website: Go to www.nelf.gov.ng.
2. Start the application: Click on ‘Apply Now’.
3. Initiate the process: Click on “Get Started”.
4. Confirm eligibility: Answer the prompt and click “Yes, I am a Nigerian”.
5. Verify educational information: Select your school from the dropdown menu and provide your matriculation number to check if your school has uploaded your details.
6. Verify with JAMB: Enter your JAMB details. Students whose NIN is not registered with JAMB can input their NIN for validation.
7. Create an account: Enter your email address, create a password, and confirm it. Click “Create Account”.
8. Verify email: Click the verification link sent to your email.

How to Complete Your Profile

1. Log in: Click “LOGIN” and enter your email address and password.
2. Update contact details: Provide your phone number, full residential address, state of residence, and local government area.
3. Update educational details: Select your higher institution and input your matriculation number.
4. Verify BVN: Enter your BVN, select your bank name, and input your account number.
5. Save changes: Complete your profile by clicking “Save Changes”.

Loan Application Process

1. Request a loan: Click “Request for Student Loan” on the home or loans page.
2. Select loan type: Choose an upkeep loan or institutional charge.
3. Upload documents: Upload compulsory documents like your admission letter. Student ID and institution invoice are optional.
4. Agree to terms: Check the policy and declaration checkbox and click “Continue”.
5. Submit application: Read the loan overview, agree to the Terms & Conditions and GSI Mandate, then click “Submit Application”.
6. Check status: Click on the “Loans” button to view the status of your application.

The loan scheme was initially enacted by President Bola Tinubu in June 2023, offering interest-free loans to students. Although it was supposed to launch in October 2023, it was deferred and re-enacted in April 2024. NELFUND finally opened the application portal on May 24, now fully operational for students seeking financial aid.

This initiative aims to alleviate the financial burdens of higher education and ensure that all students have the opportunity to complete their studies without monetary constraints.

(NAN)