How long does it take to approve Nelfund student loan?

The Nelfund students’ loan is a financial institution established by the federal government to provide loans to eligible students with zero interest, enabling them to pay tuition fees and upkeep at any tertiary institution of their choice in Nigeria.

The loan does not only include tuition fees; it also covers other costs like textbooks and upkeep.

Repayment of the loan begins two years after completing the National Youth Service Corps (NYSC), giving graduates sufficient time to secure employment.

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Eligibility Criteria for the NELFUND Student Loan

Below are the necessary requirements to qualify for the NELFUND student loan.

Applicants must be citizens of Nigeria.
Applicants must be registered students of any public tertiary institution:
Only full-time students are eligible to apply for loans.

Documents for NELFUND Student Loan

Admission Letter
Student Identification
National Identification Number (NIN)
Bank Verification Number (BVN)
Matriculation Number

How to Apply for Nelfund Student Loan

Step 1: Visit nelf.gov.ng

Step 2: Click on the “Apply Now”.

Step 3: Click on “Get Started”.

Step 4: Answer the questions on this page to continue by clicking on “Yes, I am a Nigerian.”

Step 5: Verify your educational information. You would be required to select your school from a dropdown and provide your matric number to check if your school has uploaded your details.

Step 6: Click the “Verify with JAMB” and enter your JAMB details on the screen.

(Students whose NIN has not been registered with JAMB will have an input field where they can enter their NIN for validation.)

Step 7: Create an account by entering your email address, password and confirm password in the fields provided and click “Create Account”.

Step 8: Click the email verification link sent to your email.

This concludes the process of creating an account.

After successful registration, log in by clicking the “LOGIN” button.

Step 9: Enter your email address and password to log in.

Step 10: Click on the “Proceed to Contact Details” button.

Step 11: Update contact details with the current information of your phone number, full residential address, state of residence and local government area of residence and click “Proceed to Educational Details”.

Step 12: Update your educational details by selecting your higher institution and inputting your matriculation number, then click “Proceed to Account Details”.

Step 13: Verify your BVN by entering your BVN, selecting your bank name and entering your account number. Click “Save Changes” to complete your profile.

After verifying your profile, then you proceed with your request for the loan.

Step 14: Click on the “Request for Student Loan” button at the top right of the screen on the home or loans page after logging into the application.

Step 15: If you want an upkeep loan, click the check box and click Continue. If all you need is the institutional charge, click the “Continue” button.

Step 16: Upload supporting documents. The admission letter is compulsory, while the student ID and institution invoice are optional.

Click the checkbox for the policy and declaration and click “Continue”.

Step 17: Read the loan overview and click the check boxes for both the Terms & Conditions and GSI Mandate, then click “Submit Application”.

Step 18: Click on the “Loans” button to view the status of your application.