The Nigerian Education Loan Fund is an initiative of President Bola Ahmed Tinubu Government aimed at cushioning the effects of financial pressures on Nigerian students and to foster education-for-all-initiative. Due to an increasing rise in cost of education, the scheme provides interest free loans to indigent Nigerian students studying in public tertiary institutions.
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About the Nigerian Education Loan Fund
The Nigerian Education Loan Funds was enacted as an Access to Higher Education Acts of Parliament of 2024, which was charged with the following objectives:
- providing financial support to students from low income backgrounds
- providing everyone with the opportunity to acquire higher education irrespective of the person’s financial backgrounds
- reduction of the number of university dropouts in Nigeria
This scheme is not available for students in private universities or foreign institutions.
Eligibility Criteria For Nigerian Education Loan Fund
To qualify for the Nigeria Education Loan Fund, applicants must meet up the following criteria
- must be currently enrolled into a public tertiary institution in Nigeria
- applicant must come from low-income background with annual family income less than #500,000
- must have no criminal records
Note: applicants are expected to provide two guarantors; persons of impeccable characters
How to Apply
Check out the detailed step by step procedures to apply
- Visit the official portal of NELFUND using the link below https://nelf.gov.ng/
- create an account using your JAMB registration number and school details
- upload the required documents and submit your applications
Documents Required
- Admission letter
- Guarantor’s ID card and tax clearance form
- Evidence of family income
- NIN
Deposits are made into the school account of each successful applicants while upkeep cash are deposited into the account number provided by the student during application. Repayments are made via employers after graduation while self-employed graduates are to remit percentage of their earnings.
Read about more funding opportunities for both local and abroad education
FAQ
Is the loan open to all tertiary institutions in Nigeria?
The loan is open to all students in tertiary institutions in Nigeria but only those currently studying or wish to study in Federal institutions are captured within the first phase.
Who administers the loan to students?
The Nigerian Education Loan Fund (NELF) is an agency authorized by law to oversee everything pertaining to the loan; supervised by the Director appointed by the president.
Is it true that loan excludes some states or geographical region?
No, the loan is available to students from all the states including the FCT.
