Nigerian Education Loan Fund (NELFUND) is a Federal Government initiative created to help Nigerian students access higher education through interest-free student loans. It was introduced under the Student Loans Act to reduce financial barriers for students in approved tertiary institutions.
What NELFUND Covers
NELFUND loans can cover:
- Tuition and institutional fees (paid directly to the school)
- Upkeep allowances for eligible students to support living expenses while studying.
Who Can Apply?
Generally, applicants must:
- Be Nigerian citizens
- Be enrolled in an accredited tertiary institution in Nigeria
- Have their student records verified by their institution through the NELFUND verification system.
How to Apply
To register and apply for the NELFUND student loan, you must first gather your NIN, JAMB number, and BVN. Follow these steps to complete your registration and apply:
1. Create Your Account
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- Go to the official NELFUND Portal and click Apply Now.
- Click Get Started and confirm your Nigerian citizenship.
- Select your institution and enter your matriculation number.
- Authenticate your JAMB details (registration number and date of birth). If your NIN isn’t linked to JAMB, you will be prompted to use your NIN for validation.
- Create your account using your email and password, then verify your email via the link sent to your inbox.
2. Complete Your Profile
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- Log in with your new credentials and update your contact and educational details.
- Provide your Bank Verification Number (BVN), select your bank name, and enter your account number. (Note: Providers like OPay, PalmPay, Moniepoint, and Kuda are generally not accepted for disbursement).
3. Submit Your Loan Application
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- Click Request for Student Loan.
- Select the type of loan you need (you can apply for an upkeep allowance, institutional charges, or both).
- Upload the mandatory supporting documents, such as your admission letter.
- Agree to the policy terms, accept the GSI mandate, and click Submit Application.
You can track the approval and verification status of your application at any time by logging into your NELFUND Portal dashboard.
How the Application Works
- Register on the NELFUND student loan portal.
- Submit personal and academic information.
- Your institution verifies your student status.
- Approved tuition fees are paid directly to the institution, while approved upkeep funds are sent to the student’s bank account.
Repayment
NELFUND loans are designed as interest-free loans. Repayment begins after graduation and employment, according to the framework established for the scheme.
Recent Statistics
The program has grown significantly since its launch:
- Over 366,000 students had received loans across 206 institutions by mid-2025.
- More than ₦73 billion had been disbursed for tuition and upkeep allowances.
