How to apply for federal government student loan in Nigeria
Applying for the federal government student loan or the NELFund is now simple and fully online. You need to create an account, verify your student records, and submit your application on the official portal. Once approved, tuition is paid to your school, and repayment starts two years after completing your studies.
Source: UGC
TABLE OF CONTENTS
- Key takeaways
- How to apply for the federal government student loan
- Who is eligible to apply for the federal government student loan?
- How do I apply for the federal government student loan?
- What documents are required for the application?
- Do I have to repay the federal government student loan?
- Do I need a guarantor for the federal government student loan?
- How do I cancel the NELFund student loan?
Key takeaways
- To apply for the loan, you must be a Nigerian student admitted into a public tertiary institution, with your JAMB and school details correctly uploaded to NELFund.
- The required documents for the loan application include your NIN, BVN, admission/matriculation number, and JAMB registration number.
- The entire loan application process is done online through the NELFund student loan portal, with tuition paid directly to the school and optional upkeep paid to the student.
How to apply for the federal government student loan
The federal government student loan is designed to support students who need financial assistance for their education. The loan application is done online and involves a straightforward process. Below are the eligibility criteria, documents required, and an elaborate application process to help you get closer to funding your studies.
NELFund eligibility and document requirements
The NELFund eligibility criteria help ensure that the federal government student loan reaches students who genuinely need support. Having the right documents ready will make the application process smooth and stress-free. Below are what you should have before starting the student loan application process.
- Valid identification: You must have a National Identification Number (NIN) or any government-issued ID.
- Bank Verification Number (BVN): A valid BVN is required to process your application.
- Nigerian citizenship: Applicants must be Nigerian citizens enrolled in an accredited public university, polytechnic, or college of education.
- Full-time enrolment: Only full-time students in approved programmes are eligible to apply.
- Public tertiary institutions: Only state and federal students can apply for the loan. Private institution students are not eligible to apply, despite the rising cost of tuition.
NELFund application: a step-by-step guide
Applying for the NELFund loan the right way enhances the chances of getting your student loan. This step-by-step guide will help you complete your federal government student loan application quickly and correctly.
Source: UGC
- Start the NELFund registration and application process by visiting the official NELFund website.
- On the home page, click the "Apply Now" button, and on the page that displays next, click the "Get Started" button.
- Confirm your eligibility for the loan by choosing the "Yes, I am a Nigerian" button as the answer to the preliminary question.
- Verify your educational information by selecting your tertiary institution from the list provided and entering your matriculation number.
- On the next page, click the "Verify with JAMB" button and enter your JAMB details as required. If your National Identification Number (NIN) is not registered with JAMB, provide it for validation.
- Create your NELFund account by entering your valid email address and setting a secure password.
- Check your email account for a verification link from NELFund and open it to activate your NELFund account.
- Visit the official NELFund website and click the "Login" button, and enter your email address and password to access your account.
- Update your contact details by providing your current phone number, full residential address, state, and local government area of residence.
- Update your educational details by entering the name of your learning institution and matriculation number.
- Update your bank information by providing your Bank Verification Number (BVN), choosing your bank, and entering your bank account number.
- After registration, begin the loan application process by clicking the "Request for Student Loan" button in the top right corner of the page.
- Choose your loan requirements. For instance, if you only need funding for institutional charges, select the checkbox without the personal upkeep option and click continue.
- Upload the required supporting documents, including scanned copies of your admission letter, student ID, and the institution’s invoice.
- Review your loan application by reading through and confirming that all the information provided is accurate. Agree to the Terms & Conditions and the Global Standing Instruction (GSI) Mandate by checking the respective boxes, and wrap up the process by clicking the "Submit Application" button.
- Monitor your loan application status by logging into your NELFund account and selecting the Loan section. You will receive a notification if the application is successful.
Who is eligible to apply for the federal government student loan?
Source: UGC
Any Nigerian student enrolled full-time in an accredited public institution of higher learning, such as a university, polytechnic, or college, can apply, as long as they have the requirements.
How do I apply for the federal government student loan?
You can apply online through the official NELFund portal by creating an account, filling out the application form, and uploading the required documents.
What documents are required for the application?
You will need your National Identification Number (NIN), Bank Verification Number (BVN), admission letter, and school ID card.
Do I have to repay the federal government student loan?
Repayment typically begins two years after completing your National Youth Service Corps (NYSC) programme or when you start earning an income, whichever comes first.
Do I need a guarantor for the federal government student loan?
You do not need a guarantor to access the federal government loan. No third party is involved in the loan application process.
How do I cancel the NELFund student loan?
To cancel your NELFund student loan, you must contact NELFund through their official portal or customer support for guidance. You may need to provide a written request and follow their formal cancellation procedure.
The federal government student loan is designed to make education accessible to all Nigerians. This initiative removes financial barriers and allows students to focus on their studies. By following the online process carefully, you can secure funding for your tuition and upkeep.
Legit.ng recently published an informative article about Common Entrance registration. This registration is the first step for pupils seeking admission into Junior Secondary School (JSS 1) in Nigeria. The process is simple and can be completed online with the required documents and information.
Common Entrance registration is done on the NECO website, and only primary 6 pupils within the age limit of ten years are eligible. The pupils are also required to pay a registration fee and choose an NCEE examination centre. Read this article to learn more about the registration process.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
