NELFUND Student Loan Guide | Big Quams Media®

💰

Interest-Free

No interest charges ever

📅

2 Years

Repayment grace period

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10% Salary

Monthly repayment cap

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Federal

Government-backed fund

Who Qualifies

Eligibility Criteria

✅

Nigerian citizen enrolled in an accredited federal or state tertiary institution (university, polytechnic or college of education)

✅

Must have a valid National Identification Number (NIN) and Bank Verification Number (BVN)

✅

No history of default on any previous government loan programme

✅

Must provide a guarantor — a civil servant on Grade Level 12 or above, or a licensed professional (lawyer, doctor, engineer, etc.)

✅

Must have a valid school admission letter and current student ID

❌

Private institution students are currently NOT covered — eligibility may expand in future phases

Application Process

How to Apply

1

Register on NELFUND Portal

Visit nelfund.gov.ng and click "Apply Now". Create an account using your NIN and BVN.

2

Upload Your Documents

Upload your admission letter, school ID, guarantor form, passport photograph and bank details.

3

Submit Application

Review all details carefully and submit your application. You will receive a confirmation email and reference number.

4

Await Review

NELFUND reviews your application. This typically takes 2–4 weeks. Check your application status on the portal.

5

Tuition Disbursement

Once approved, your tuition funds are disbursed directly to your institution. Living allowance goes to your bank account.

6

Repayment Begins Later

Repayment starts 2 years after graduation or when employed — whichever comes first. Only 10% of monthly salary is deducted.