The Much-awaited Nigeria’s education loan scheme commenced on Friday.
The managing director/chief executive officer of the Nigeria
Education Loan Fund, Akintunde Sawyerr, recently announced that the launch
portal will be on Friday, May 24, 2024.
According to NELFUND, the scheme’s first phase will include
1.2 million federal higher institution students.
He stressed that the next phase will include students from
State universities in Nigeria.
Sawyerr said the requirements to apply for the loan include
an admission letter from the Joint Admissions and Matriculation Board, a National
Identity Number, a Bank Verification Number, and completed application forms
from its website.
Meanwhile, students in private universities have kicked
against exclusion from the scheme.
Here is the step-by-step application process of the
Nigerian student loan scheme:
How to Apply for 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. To check if
your school has uploaded your details, select your school from a dropdown menu
and provide your matric number.
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 and
password. Confirm the 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.
HOW TO COMPLETE YOUR PROFILE
After successful registration, log in by clicking the
“LOGIN” button.
Step 1: Enter your email address and password to “LOGIN”.
Step 2: Click on the “Proceed to Contact Details” button.
Step 3: Update contact details with the current information
of your phone number, full residential address, state of residence and local
government area of residence. Then click “Proceed to Educational Details.”
Step 4: Update your educational details by selecting your
higher Institution and inputting your matric number. Then click “Proceed to
Account Details.”
Step 5: Verify your BVN by entering it, selecting your bank
name, and entering your account number. Click “save changes” to complete your
profile.
LOAN APPLICATION
Step 1: After logging into the application, Click the
“Request for student loan” button at the top right of the home or loans page
screen.
Step 2: 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 3: Upload supporting documents. The admission letter is
compulsory, but the student ID and institution invoice are optional.
Click the checkbox for the policy and declaration and click
“continue.”
Step 4: Read the loan overview and click the checkboxes for
both the terms & conditions and GSI Mandate, then click “Submit
Application”
Step 5: Click on the “loans” button to view the status of
your application.
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