How To Apply For Nigerian Education Loan Fund (NELFUND) – FG Student Loan
If you are a Nigerian student looking for Federal Government Loan to support your education, you will be happy to know that the management of Nigerian Education Loan Fund (NELFUND) led by its Managing Director, Mr. Akintunde Sawyerr has finally announced 24th of May, 2024 as the official date for the opening of the portal for student loan applications.
President Bola Ahmed Tinubu’s (GCFR) Renewed Hope Agenda’s flagship program, the Students Loan, is a pillar of the administration’s commitment to democratizing access to higher education and equipping Nigerian youths with the skills they need to thrive in the fast-paced global economy of today.
About the Nigerian Education Loan Fund (NELFUND) Portal
The Nigerian Education Loan Fund (NELFUND) Portal is currently accessible but application to officially open on 24th May 2024. Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
According to NELFUND, the portal provides a user-friendly interface for students to submit their loan applications conveniently. We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.
The Nigerian Education Loan Fund (NELFUND) is the creation of the Access to Higher Education Act, 2023. NELFUND is the body created by the Act to handle all loan requests, grants, disbursement, and recovery of the loans provided.
How To Apply For Nigerian Education Loan Fund (NELFUND)
To apply, students can access the portal via https://nelf.gov.ng to begin their application on May 24, 2024.
For more information and assistance, please contact NELFUND via email at info@nelf.gov.ng or contact us via our social media handles.
Frequently Asked Questions
How to qualify for a Nigerian student loan?
The applicant’s family income must not exceed N500,000 per annum. Under the revised law, however, this requirement has been removed, and family income will no longer be a prerequisite for eligibility for the student loan.
What is the new student loan act in Nigeria?
On Wednesday, April 3, 2024, President Bola Tinubu signed the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024 into law. The Act aims to ensure that all Nigerian students and youths have access to functional skill development and sustainable higher education, making it a historic measure.
How much is a Nigerian student loan?
Under the scheme, eligible applicants will receive up to N500,000 (approximately $650) per academic session.