What is NELFUND?

The Nigerian Education Loan Fund (NELFUND) is a government initiative designed to help Nigerian students and trainees access higher education or vocational training without financial barriers. It provides interest-free loans to cover tuition and upkeep expenses, helping students focus on learning rather than worrying about money.

Who Is It For?

NELFUND is meant for:
- Full-time students in approved tertiary institutions such as universities, polytechnics, and colleges of education.
- Individuals enrolled in vocational or skills-acquisition programmes under structured and recognized training centres.
- Students who demonstrate financial need and whose schools are registered under the NELFUND scheme.

Eligibility - Who Can Apply?

To qualify for the NELFUND student loan, applicants must:
- Be a Nigerian citizen.
- Be enrolled in an approved institution (federal, state, or private) participating in the NELFUND programme.
- Have valid NIN and BVN for verification.
- Provide JAMB registration number, admission number, and student ID or admission letter.
- Ensure their institution verifies their details on the official NELFUND system.
- Be a full-time student (part-time students may not be eligible).

How It Works - Application and Disbursement

1. Application is made online through the NELFUND portal
2. The student’s institution verifies the application through the Student Loan Application System (SLAS).
3. Once approved, the tuition fee is paid directly to the institution’s account.
4. An upkeep allowance (living support) is then credited to the student’s account.
5. Disbursement is typically completed within 30 days of approval.
6. No agent or payment is required - the loan is interest-free and completely free to apply.

Repayment Process

- Repayment does not start immediately after graduation.
- There is a grace period of about two years after completing NYSC before repayment begins.
- Once employed, 10% of your monthly salary is automatically deducted by your employer and remitted to NELFUND.
- For self-employed beneficiaries, 10% of monthly profit is expected.
- Borrowers can choose to repay faster by paying more than the minimum required amount.
- Unemployed graduates will not be required to pay until they secure a job.

What the Loan Covers

NELFUND loans are mainly for:
- Tuition fees (paid directly to the institution).
- Upkeep/living allowances (paid directly to the student).
- It is not meant for luxury or non-educational expenses
- the focus is to remove financial barriers to study.

Important Notes

- Your institution must be onboarded with NELFUND before you can apply.
- Keep all your documents (admission letter, student ID, NIN, BVN) safe and ready for upload.
- The loan is interest-free but repayment is mandatory once you start earning.
- Beware of fraudulent agents - do not pay anyone to “help” you process the loan.
- The system is fully digital, ensuring transparency and direct disbursement to schools and students.

In Summary

NELFUND offers an opportunity for Nigerian students to complete their education without dropping out due to lack of funds. It’s transparent, interest-free, and designed to promote equal access to education across all backgrounds.

If you’re a full-time student in an approved institution, this could be your best chance to fund your studies and focus on your goals.



Apply here