Nigerian Education Loan Fund, NELFUND students loans set to open on May 24th 2024. The costs of tuition fees, accomodation and other school expenses can be prohibitive especially for those from low-icome families. This is where NELFUND comes in to bridge the gap by offering student loans to students.

Loan scheme has come to Nigeria. The Nigerian Education Loan Fund (NELFUND) is the body now instituted to manage the day-to-day activities of the federal government of Nigeria’s student loan initiative announced sometime last year. 

Eligibility requirements for the Nigeria Student loan programme in 2024

The initial restrictions based on family income of an average of ₦500,000 and positive parental loan history have been eliminated. As long as you are a Nigerian student enrolled in a public tertiary institution (university, polytechnic, college of education, or vocational school), you are eligible to apply.

Repayment of the Student loan 

Based on the fact that there are challenges with securing a job after NYSC, the Federal Government will not request for loan repayment until two years after your National Youth Service Corps (NYSC) service. 

NELFUND Student Loan Application 2024

The NELFUND student loan application portal opens on May 24th, 2024. To get started with your application, prepare your:

• JAMB registration number
• National Identity Number (NIN)
• Bank Verification Number (BVN)
• Student matriculation or registration number. 

Conclusion

We strongly recommend that you bookmark this page as we intend to update here with further guidelines on applying for NELFUND student loan.