The Nigerian Education Loan Fund (NELFUND) the official government body for student loans, has on Friday announced that the application portal for the student loan is now open.
The loan website became active in the early hours of Friday, however, the first phase of the loan is open to students of federal tertiary institutions, the first phase. NELFUND spokesman Nasir Ayitogo listed the step-by-step application for the loan.
How to create an account
Step 1: visit www.nelf.gov.ng
Step 2: Click on the ‘Apply Now’
Step 3: Click on “Get Started”
Step 4: Answer the questions on this page 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 on 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 and confirming the password in the fields provided, and clicking “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 log in.
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, and 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, selecting your Bank Name, and entering 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 while 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.
President Bola Tinubu enacted an initial version of the student loan policy in June 2023 to grant interest-free loans to students. The scheme was supposed to have taken off in October 2023 and was deferred until a re-enactment in April 2024.
However, NELFUND finally scheduled the opening of the loan application and issuance portal for May 24, which is now in operation.