The Nigeria Education Loan Fund(NELFund): Everything you Need to Know

The Nigerian Education Loan Fund is an initaitie 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 currently studying in public tertiary institutions.

Objectives of NELFUND

The Nigerian Education Loan Funds was enacted as an Access to Higher Eduaction Acts of Parliament of 2024, which was charged wih 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 currently availble for students in private universities or foreign institutions.

Elegibility Criteria

To qualify for this education loan, applicants must meet up the following criteria

• must be currently enrolled into a public tertiary institution in Nigeria
• appliacnt must come from low-inciome background with annual family income less than #500,000
• must have no criminal records

Note: applicants are expected tp 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 reqiured documents and submit your applications

Documents Required

1. Admission letter
2. Guarantor’s ID card and tax clearance form
3. Evidence of family icome
4. NIN

Disembursement are made into the school of each successful applicants while upkeep cash are deposted into the account number provided by the student during appliaction. Repayments are made via employers after graduation whille self-employed grauates are to remit percentage of their earnings.

APPLY HERE

VISIT NELFUND