Overview
The NELFUND Student Loan scheme was signed into law on April 3, 2024, under the Student Loan (Access to Higher Education) Act.
On July 17, Nigerian President Bola Ahmed Tinubu officially announced the launch of the Nigerian Education Loan Fund (NELFUND), aimed at prioritizing higher education in Nigeria.
The Loan is primarily created to help Nigerian students access higher education without financial barriers and to promote equal opportunity for every student in Nigeria.
Latest News
NELFUND has recently announced that the application portal is now open for fresh 2025/2026 registration, and students are encouraged to apply before the deadline.
The agency stated that the registration will start on Thursday, October 23, 2025, and close on Saturday, January 31, 2026.
NELFUND’s first year of operation in 2024/2025 cycle disbursed approximately ₦86.3 billion to nearly 449,039 students across Nigerian tertiary institutions.
The loan covers both tuition and upkeep allowances. Every Nigerian student aims to benefit from this long-term academic loan.
The year 2025 has also presented an opportunity for Nigerian students to apply and explore NELFUND benefits.
In this article, we will explore everything you need to know about the NELFUND Student Loan, eligibility, required documents, and how you can apply for faster approval.
What is NELFund?
NELFund (Nigeria Education Loan Fund) is a government-established loan institution tasked with providing interest-free student loans to eligible Nigerian students in recognized tertiary institutions.
As of May 2025, NELFUND reported 731,140 registered students, with 720,732 applications processed, with a 98% approval rate.
| Month | Number of Loan Applications |
|---|---|
| January | 63,000 |
| February | 69,000 |
| March | 105,000 |
| April | 118,000 |
| May | 108,000 |
| June | 92,000 |
| July | 155,000 |
| August | 168,000 |
| September | 135,000 |
| October | 120,000 |
This scheme derived its authority from the legal framework of the Student Loans (Access to Higher Education) Act, 2024.
NELFUND Objectives:
- Financial access to higher education for Nigerian students.
- Promote equal opportunity and a knowledge-driven economy.
- Loan management, verification, upkeep allowances, and repayment.
Students Feedback
The NELFUND managing director stated that no Nigerian student should be denied tertiary education because of financial situations.
However, according to statistics, students are complaining about internet access issues, disbursement, and verification delays.
NELFund Beneficiaries by Institution Type (2025)
| Institution Type | No. of Institutions | Students Benefited |
|---|---|---|
| Colleges of Education | 64 | 44,732 |
| Polytechnics | 71 | 19,487 |
| Universities | 106 | 557,454 |
Students are constantly pleading with the federal government to take action regarding the situation.
Interest Rate & Repayment Plan
The interest rate and repayment plan for the NELFUND loan are at the heart of every Nigerian student who wishes to apply for the loan.
Don’t worry, the loan is interest-free, and that makes the NELFUND loan scheme more competitive.
- For eligible students, repayment begins two years after completing the compulsory NYSC program or exemption if applicable.
- 10% of the beneficiary’s monthly income will be deducted for those employed.
- Self-employed graduates must report their business details and remit equivalent amounts as stipulated.
- NELFUND loan includes tuition/Institutional fees and upkeep allowances.
The table below summarizes the NELFUND student loan repayment process clearly.
| Category | Description |
|---|---|
| Repayment Start | Repayment begins two years after completing the NYSC program or after an official exemption, if applicable. |
| Employed Beneficiaries | 10% of the beneficiary’s monthly income will be automatically deducted for loan repayment. |
| Self-Employed Graduates | Must report their business details to NELFUND and remit equivalent monthly payments as stipulated in the repayment plan. |
| Loan Coverage | The NELFUND loan covers both tuition/institutional fees and upkeep allowances for eligible students. |
The agency has recently revised the upkeep policy, stating that students will now be eligible for upkeep only for the current academic session and must reapply each session.
For now, the NELFUND student loan is favorable compared with others. It has minimal cost (interest-free), deferred repayment, and structured deduction. You must understand the legal obligations and ensure you fulfill them.
NELFUND Eligibility Requirements
Nigerian Education Loan Fund (NELFUND) eligibility requirements for the 2025/2026 registration process include:
- Must be a Nigerian citizen
- Approved tertiary institutions (public federal or state university, polytechnic, or college of education) recognised by the scheme.
- Proof of identification: National Identification Number (NIN), BVN, Jamb Registration details.
- Registered on the NELFund portal
- Institution Verification
- Current session enrollment
| S/N | Eligibility Requirement | Description |
|---|---|---|
| 1 | Nigerian Citizenship | Applicant must be a bona fide Nigerian citizen to qualify for the NELFUND student loan. |
| 2 | Approved Institution | Must be admitted into an approved public tertiary institution — Federal or State University, Polytechnic, or College of Education recognized by the scheme. |
| 3 | Proof of Identification | Applicants must provide valid identification such as NIN, BVN, and JAMB registration details. |
| 4 | Portal Registration & Institution Verification | Applicants must register on the NELFUND portal and complete the institution verification process as part of their eligibility confirmation. |
| 5 | Current Enrollment | Applicant must be currently enrolled for the active academic session in their respective institution. |
NELFUND Loan Required Documents
- Upload these mandatory documents to the NELFUND portal if you want to apply for a student loan.
- Admission letter from your institution (mandatory)
- Student ID card or proof of matriculation (optional but helpful)
- National Identification Number (NIN) or a valid national ID document.
- Bank account number and Bank Verification Number (BVN) for verification/disbursement.
- Matriculation number and institution details.
- Agreement to the Terms & Conditions / Global Standing Instruction (GSI), which allows deduction from salary or account if repayment fails.
| S/N | Document | Description |
|---|---|---|
| 1 | Admission Letter | A mandatory document issued by your institution confirming your admission into an approved program. |
| 2 | Student ID Card / Proof of Matriculation | Optional but highly recommended; serves as proof of active student status within your institution. |
| 3 | National Identification Number (NIN) | Provide your NIN or valid national ID document for identity verification purposes. |
| 4 | Bank Account Details & BVN | Your bank account number and Bank Verification Number (BVN) are required for verification and loan disbursement. |
| 5 | Matriculation Number & Institution Details | Include your matriculation number and accurate institutional information to confirm your academic record. |
| 6 | Agreement to Terms & Conditions / GSI | Applicants must agree to the Terms & Conditions and sign the Global Standing Instruction (GSI), allowing repayment deductions from salary or account if default occurs. |
Pro tips
To avoid delay and waste of time, have an electronic scan (PDF or JPG) of all the documents before starting the application.
How to Apply for NELFund Student Loan 2025/2026
Here is the simple way to apply for the NELFund Student loan for the 2025 academic session.
Application for NELFUND 2025/2026
- NELFUND official website
Visit the official NELFUND portal at www.nelf.gov.ng
- Apply Now
On the homepage, click the “Apply Now” button to begin your student loan process.
- Create a New Account
Select “Get Started” and enter your email address and a strong password. Verify your email through the link sent to your inbox.
- Check Eligibility
Answer short questions confirming that you’re a Nigerian citizen and enrolled in a recognized public tertiary institution.
- Verify School Information
Choose your institution from the provided list and confirm your details by entering your matriculation number.
- Authenticate JAMB Records
Click “Verify with JAMB” and provide your JAMB registration number. Add your NIN if it’s not already connected.
- Provide Contact Details
Enter your phone number, residential address, state, and local government area. Ensure all information is current and accurate.
- Update Educational Profile
Input your academic details such as your institution, course, and level of study. Click “Proceed to Account Details” when done.
- Add Bank Details
Provide your Bank Verification Number (BVN) and choose your bank from the dropdown menu to enable verification and disbursement.
- Submit Loan Request
After logging in, click “Request for Student Loan”. Choose the type of loan you’re applying for and continue to the next section.
- Upload Documents
Upload a scanned copy of your admission letter (compulsory) and student ID card (optional). Review and accept the policy before continuing.
- Final Review and Agreements
Go through your application, confirm accuracy, and accept the Terms & Conditions including the Global Standing Instruction (GSI). Then click “Submit Application.”
- Track Application Status
Log in to your dashboard anytime to monitor your loan progress and check for updates or approval messages.
NELFUND will notify you if your application is successfully approved. Also, contact NELFUND through their official website if your application is not approved.
The table below provides a clear, step-by-step overview of how to apply for the NELFUND student loan on the official portal.
| Step | Action | Details |
|---|---|---|
| 1 | Go to the Official Website | Open your browser and visit the verified NELFUND portal at www.nelf.gov.ng. |
| 2 | Start Your Application | On the homepage, click the “Apply Now” button to begin your student loan process. |
| 3 | Create a New Account | Select “Get Started” and enter your email address and a strong password. Verify your email through the link sent to your inbox. |
| 4 | Check Eligibility | Answer short questions confirming that you’re a Nigerian citizen and enrolled in a recognized public tertiary institution. |
| 5 | Verify School Information | Choose your institution from the provided list and confirm your details by entering your matriculation number. |
| 6 | Authenticate JAMB Record | Click “Verify with JAMB” and provide your JAMB registration number. Add your NIN if it’s not already connected. |
| 7 | Provide Contact Details | Enter your phone number, residential address, state, and local government area. Ensure all information is current and accurate. |
| 8 | Update Educational Profile | Input your academic details such as your institution, course, and level of study. Click “Proceed to Account Details” when done. |
| 9 | Add Bank Details | Provide your Bank Verification Number (BVN) and choose your bank from the dropdown menu to enable verification and disbursement. |
| 10 | Submit Loan Request | After logging in, click “Request for Student Loan”. Choose the type of loan you’re applying for and continue to the next section. |
| 11 | Upload Documents | Upload a scanned copy of your admission letter (compulsory) and student ID card (optional). Review and accept the policy before continuing. |
| 12 | Final Review and Agreement | Go through your application, confirm accuracy, and accept the Terms & Conditions including the Global Standing Instruction (GSI). Then click “Submit Application.” |
| 13 | Track Application Status | Log in to your dashboard anytime to monitor your loan progress and check for updates or approval messages. |
Application Deadline
For the 2025/2026 cycle, the application portal opened on Thursday, October 23, 2025, and closed on Saturday, January 31, 2026. Students are advised to apply as soon as possible to avoid missing out.
Beware of the scam link. The NELFUND official website is www.nelf.gov.ng. Any other link should be treated with caution.
Latest Statistics
The NELFUND early scale and outreach for the 2024/2025 statistics.
- The agency disbursed ₦86.3 billion to 298,124 students across 218 institutions in Nigeria.
- ₦47.63 billion went to nationwide institution fees; ₦38.72 billion was provided as upkeep.
- More than 731,140 students registered; 720,732applications processed as of May 2025 with 98% approval rate.
- North-West region received ₦5.84 billion for 59,187 students; South-East ₦1.33 billion for 10,525 students (as of Jan 2025).
| Students Supported | State Coverage | |
|---|---|---|
| 463K | 37 | |
| Male | Female | |
| 304K | 159K | |
Coverage map shows state-level student support across Nigeria.
The figures shows the scheme is improving but also need room for increased awareness especially in under represented regions.
Conclusion,
Nigerian students who is admitted in public tertiary institutions but faced financial situation, now is the time to apply for the 2025 cycle of the NELFUND student loan.
Don’t be afraid, the scheme is one of the best loan initiative in Nigeria right now. It offers interest free, a deferred repayment option and financial support for tuition and upkeep.
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Ensure to submit your application before the deadline. Once approved, you will focus on your studies and plan how to pay government back.
Visit www.nelf.gov.ng to register, upload your details, and apply immediately.
Check our website for additional student resources. We offer verified scholarships, loan initiatives and tools for your academic success.
Best of luck. May you secure your loan and focus on your studies. Scholarjoiner cares.
