Step-by-Step Guide: Applying for a Student Loan in Nigeria

Students in federal government-owned tertiary institutions will be the first beneficiaries of the new student loan scheme. Akintunde Sawyerr, CEO of the Nigerian Education Loan Fund (NELFUND), outlined the conditions for eligibility on May 20.

This announcement follows President Tinubu’s signing of the bill on April 3, fulfilling his promise that no Nigerian student would have to drop out of school due to lack of funds.

Applying for a student loan can seem daunting due to the various forms and requirements. However, with proper guidance, the process can be smooth and straightforward. Here’s a step-by-step guide to applying for a student loan through the NELFUND platform.

Step-by-Step Guide to Applying for a Student Loan in Nigeria

1. Access the NELFUND Loan Application Portal
Visit the NELFUND website at https://nelf.gov.ng. Navigate to the student loan portal and either create an account or log in if you already have one. An account is necessary to save your progress and access your application at any time.

2. Prepare Required Documents
Gather the necessary documents, which typically include:

Proof of identity (e.g., national ID card, passport)
Admission letter from your institution
Academic records
Financial statements or proof of income
Any other relevant documents as specified on the portal
These documents are needed to verify your identity, academic status, and financial need.

3. Complete the Application Form
Fill out the loan application form with your personal details (name, contact information, date of birth), academic information (course of study, institution, level of study), and financial details (income, expenses, and other funding sources).

4. Review Your Application
Thoroughly review your application for any errors or missing information. Ensure all required documents are attached. This step is crucial to avoid delays or rejections.

5. Submit Your Application
Submit your completed application through the portal. Upon submission, you will receive a confirmation email from NELFUND with further instructions.

6. Follow Up
The confirmation email may contain details about the next steps, such as providing additional documentation or attending an interview. Promptly follow any instructions to ensure efficient processing of your application.

By following these steps, you can navigate the application process smoothly and increase your chances of securing the financial assistance you need for your education. Remember to carefully review your application and comply with all instructions provided by NELFUND to ensure a successful application process.