Apply Now: FG Opens Student Loan Online Application Portal www.nelf.gov.ng

The eagerly awaited Nigerian student loan program is finally here, set to begin on Friday, 24 May, 2024. With 1.2 million students in federal tertiary institutions eligible for the first phase, this scheme promises to make higher education more accessible. Here’s a comprehensive guide on applying for the loan and what to expect from this new initiative.

Key Features of the Student Loan Scheme

Broad Eligibility

The scheme covers students in federal universities, polytechnics, colleges of education, and technical colleges. The family income threshold has been removed, allowing more students to apply and take responsibility for repayment.

Interest-Free Loans and Monthly Stipends

The loans are interest-free. Students will receive monthly stipends for upkeep.

No Physical Contact Needed

The entire application process is conducted online, ensuring convenience and efficiency.

Direct Payment to Institutions

Tuition fees are paid directly to the institutions, and only for one session at a time.

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Step-by-Step Application Process

Check Your Eligibility

• Ensure you are a student at a federal tertiary institution.
• Confirm that your institution has uploaded your data on the Nigeria Education Loan Fund (NELFUND) dashboard.

Prepare Required Documents

• Admission letter from the Joint Admissions and Matriculation Board (JAMB).
• National Identity Number (NIN).
• Bank Verification Number (BVN).

Visit the NELFUND Website

Go to the official portal: www.nelf.gov.ng. Navigate to the loan application section.

Complete the Application Form

Fill out the application form with accurate and up-to-date information. Upload the required documents.

Submit Your Application

Double-check all entries for accuracy. Submit the completed application form online.

Await Confirmation

Monitor your email and the NELFUND portal for updates on your application status. Be prepared to provide additional information if requested.

Read Also: FG Invites Nigerians to Apply for 24 Job Vacancies at the African Union (AU) – Apply Now

Tips for a Successful Application

• Early Application: Submit your application as soon as the portal opens to ensure timely processing.
• Accurate Information: Ensure all details are correct and match your official documents.
• Stay Informed: Regularly check the NELFUND website and your email for updates or additional instructions.

Security and Fraud Prevention

The Nigeria Education Loan Fund is working closely with security agencies to prevent fraudulent activities. Students are advised to apply only through the official portal and to report any suspicious activities immediately.

Future Expansion Plans

The initial phase targets students in federal institutions, but there are plans to include students from state universities and vocational skills centres in subsequent phases. Keep an eye out for announcements regarding these expansions.

By following this guide, you can smoothly navigate the application process and take advantage of the financial support available to help you achieve your educational goals.

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