FG Announces Procedures for Student Loan Disbursement

 

With the initiation of the NELFUND student loan disbursement, NELFUND has outlined the procedures for distributing student loans.

Here is a detailed breakdown of the process each student loan application follows, highlighting the essential roles of NELFUND, the institutions, and the students:

1. Data Submission: Institutions must provide NELFUND with accurate and complete student data, including matriculation numbers, JAMB details, course of study, academic level, and fees for upload onto the NELFUND SVS.

2. Student Notification: NELFUND and the institutions will inform students about their eligibility to apply for loans through awareness campaigns and direct communication.

3. Student Loan Application: Students apply for loans via the NELFUND portal (https://nelf.gov.ng), providing necessary details such as JAMB number, NIN, BVN, and matriculation number.

4. Application Processing: NELFUND processes the applications by verifying the provided details and approving those that meet the criteria.

5. Approval Notification: NELFUND sends a list of approved loans to the institutions for further verification.

6. Institutional Verification: Institutions review the approved list, confirm the accuracy of the student information and loan approvals, and then sign off on the list before returning it to NELFUND.

7. Fee Disbursement: NELFUND, upon receiving the verified list, disburses the approved fees directly to the institutions on behalf of the students.

This structured process ensures efficient management of student loans, with all parties fulfilling their roles to help students access higher education.

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