3 Steps To Apply For NELFUND Student Loan In Nigeria

The Nigerian Education Loan Fund (NELFUND) Student Loan is a financial support program that is established to assist Nigerian students facing financial limitations due to the exorbitant cost of tertiary education.

The Nigerian Education Loan Fund (NELFUND) student offers student loan to qualified Nigerian students to cater for a wide range of educational expenses, including tuition fees, textbooks, accommodation, and other expenses in approved tertiary academic institutions, vocational and skills acquisition institutions in Nigeria.

So, whether the student aspire of attending a renowned university, a specialized institution, or a vocational school, the NELFUND student loan can help turn students' aspirations into reality. All the student need to do is to apply for the student loan on the student loan portal.

How To Apply For NELFUND Student Loan In Nigeria

Student loans can be a lifesaver for Nigerian students who need financial help to chase their academic dreams. The following below will guide  applicants on the easiest procedure of applying for a student loan in Nigeria.

Step 1: Meet Eligibility Criteria For Student Loan

To apply for the NELFUND student loan, the student must meet the following eligibility criteria:

1) Be a Nigerian citizen

2) Be admitted to a recognized tertiary institution in Nigeria

3) Provide proof of admission

4) Provide evidence of matriculation

5) Have a good academic record

Step 2: Gather Required Documents For Student Loan Application

The applicant should make ready the following documents below:

1) Admission letter from Jamb

2) Matriculation Number

3) Jamb registration number

4) NIN

5) BVN

6) School ID Card (optional)

7) And Other particulars as requested by the student loan portal

Step 3. Visit the student loan portal and fill student loan application form

Students applying for the student loan through the student loan portal should follow the process below:

1) Go to the official student loan portal: http://www.nelf.gov.ng

2) Navigate to the student loan application section.

3) Fill out the student application form with accurate and up-to-date data.

4) Upload the required documents.

5) Double-check all entries for accuracy.

6) Submit the completed student loan application.

7) Await verification and approval.

8) check your email frequently and the student loan portal for updates on your student loan application status.

9) Applicants might be requested to provide additional information.

10) Receive the Loan

Kindly note that if a student is approved for the student loan only the upkeep loan will be disbursed to the student's bank account, the student loan will be disbursed to the institution, student loan received should only be used for academic expenses only.

Applying for a student loan in Nigeria can be a seamless process if the student follow the above steps. Applicants are to meet the eligibility criteria, gather the required documents, and apply for the student loan, and receive the student loan.
The student loan is only open to students of Nigerian tertiary institutions both federal and state institutions and certain criteria have to be met before students can be eligible to apply for the student loan.

Features of the student loan

The following below are the features of the student loan:

1) The loan is interest-free.

2) The student loan targets Nigerian undergraduates and is a financial support for students to pursue their academic aspirations.

3) The student loan will reduce financial limitations on students and families.

4) The student loan affords students equal access to higher education.

5) The repayment of student loan commences two years Post-NYSC

Source: https://newtelegraphng.com/how-to-apply-for-student-loan-in-nigeria/