How students fit access Nelfund loan according to Nigerian govment

Read am in 4 mins

Nigeria govment don announce opening date for di Nigeria Education Loan Fund Nelfund application portal for di 2025/ 2026 academic session for di kontri students.

Nelfund na loan scheme wey di goment introduce for 2024 to support students wey no get enof money to pay dia school fees, but di student gats pay back later afta graduation.

For circular wey goment release on Monday, dem say di portal dey open on 23 October 2025 and go close on 31 January 2026.

Govment say di loans dey interest free, say dem aim to use am reduce financial stress on students and dia families.

Nelfund say so far dem don receive 795,321 loan applications.

Skip content and continue reading

End of content

Step by step how to access Nelfund loan

According to information on dia verified website, Nelfund say to access di students loan, di student go first visit di Nelfund website to apply.

Im go need to create profile and start di application.

Di applicant go need to enter di name of im school and matriculation number, den upload di required documents wey di site go ask for. Den dem go verify di students status.

After verification, if di application dey successful, dem go disburse di academic loan to di school account of di student, and di funds for upkeep, dem go send to di student personal account.

Odas steps to apply afta di pesin don login to dia website na;

  • Click on 'Get Started' to begin di registration
  • Confirm your eligibility. Dis na to confirm weda you be Nigerian.
  • Verify Educational Information with your matric number
  • Click on 'Verify with Jamb' to authenticate your JAMB
  • Click on 'Creat Account' to create your own account.
  • Verify your email. You gas check your email box to verify di email wey you enter.
  • After verification you go now for log into your account by clicking 'Login'
  • Den enta your registered email and password to access your password.
  • Update your phone number, address, state, and local govment area of residence.
  • Click on 'Proceed to Educational Details' and select your school name, enter your matric number correctly
  • Click on 'Proceed to Account Details'. Enter your BVN, select your bank, put your account number. Then click on 'Save Changes' to complete your profile.
  • To apply for di loan, click on 'Request for Student Loan' button wey dey for di top right corner after login in.
  • Specify di kain loan you want: personal upkeep loan or academic loan.
  • Upload di required documents including students ID, admission letter, and school invoice. Click on di check button to acknowledge di policy and declaration. Den click continue.
  • Review your application, Agree on di terms, before you click di 'Submit Application' button.

How much you fit get

Managing Director of Nelfund for 2024 session Akintunde Sawyer say e depend on how much be your tuition fees and oda payments for your school, becos di money no go enter your hand direct.

Oga Sawyer explain say Nelfund "go pay an institutional access fee, wey go give di students total access to classes, examinations, tutorials, and seminars within di confines of di institution".

Asides di school fees and odas, Nelfund go also pay monthly stipend give di pesin to take hold body; all na part of di loan.

Nelfund no tok how much dis monthly stipend go be, but Sawyer tok say e no go pass a certain amount.

Wetin fit deny you di loan?

To apply no mean say you must to get di loan. Nelfund tok say dem dey run some background checks to know who fit qualify, and di following na tins wey fit disqualify pesin:

  • If you bin don borrow money bifor from any financial institution and you no pay
  • If you submit fake/fraudulent documents
  • If dem bin don find you guilty of exam malpractices by any school authority, or dem bin pursue you for school
  • If you bin don do fraud, forgery, drug offences, cultism, felony, or any offences wey involve dishonesty
  • If your university never upload di data of dia students to di Nelfund portal, bicos dat data na wetin go help verify you as real student.

How you go pay back di loan?

Di law tok say pipo suppose start paying back di loan two years afta dia National Youth Service.

If di pesin get job, goment go dey collect 10% of im salary until e finish paying di loan.

For pesin wey no get job but e dey self-employed, goment go also dey collect 10% of your profit in a month until you finish paying, but na you go carry di money yourself go pay am for di education bank.

Pesin wey decide say e no go pay back di loan, e go face "penalties, legal action, and potential damage to your credit score" according to di Nelfund website.

But di Act tok say di pesin go pay N500,000 for fine or go prison for two years or both.