All Technical Issues Resolved on Student Loan Portal, Students Can Reapply For Student Loan - NELFUND
The management of the Nigerian Education Loan Fund (NELFUND) has advised applicants facing difficulties to reapply for the student loan, adding that all technical issues affecting the NELFUND Student Loan Application portal have been resolved.
This is contained in a statement issued by NELFUND on its X (formerly Twitter) account on Monday.
NELFUND, the body in charge of the student loan initiative, said students can either reapply or proceed with the student loan application process on the NELFUND student loan application portal.
NELFUND also added that student loan applicants may have received an SMS text or email from the organization, advising them to reapply for the student loan.
“NELFUND Student/Applicants
“If you have encountered challenges with the application process, please check back into either re-register or continue the application process.
“The technical issues have been resolved.
“You may also have received an SMS or email from NELFUND calling you to try again.
“If you are successful when you retry, please let us know. If not, please reach out to us,” the statement on Twitter reads.
The Nigerian Education Loan Fund (NELFUND)
The Nigerian Education Loan Fund (NELFUND) was established under the revised Student Loan Act of 2024 to provide interest-free student loans to Nigerian students pursuing higher education, vocational training, and skill development programs.
In an earlier statement, the managing director of the Nigerian Education Loan Fund (NELFUND), Dr. Akintunde Sawyerr, directed all students to log into the NELFUND student loan portal through www.nelf.gov.ng and create an account using their existing credentials.
According to Dr. Akintunde Sawyerr, applicants will need to provide various documents, including their JAMB admission letter, NIN, BVN, personal details, academic information, and financial needs.
Dr. Akintunde Sawyerr stressed the importance of ensuring the integrity of the student loan application process, stating that measures are in place to verify applicants’ eligibility and prevent fraud in the student loan application process.
The Nigerian Education Loan Fund (NELFUND) also released step-by-step ways to apply for the student loan immediately after the student loan launch in May.
What you should know about the student loan
The revised Student Loan Act 2024 was established to remove financial barriers and financial burdens and make education more accessible to all Nigerian students, regardless of their economic background.
The primary sources of funding for NELFUND include a percentage of taxes, levies, and duties collected by the Federal Inland Revenue Service (FIRS), Nigerian Immigration Service, and Nigerian Customs Service, amounting to 1% of their total revenues.
Additionally, NELFUND will receive contributions from the profits generated by the government’s natural resource exploitation, education bonds, endowment fund schemes, and donations from individuals and organizations.
The student loan cover tuition, fees, and maintenance costs. The repayment process of the student loan starts two years after the beneficiary completes the National Youth Service Corp (NYSC) program.
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