NIN, BVN, Admission Letter… How to Apply for Student Loan

According to the Nigerian Education Loan Fund (NELFUND), the student loan system will be limited to federal tertiary institutions during its experimental phase.

In June 2023, President Bola Tinubu signed an initial version of the student loan program, which allows students to borrow money without paying interest.

The project was scheduled to start in October 2023, but was delayed until April 2024.

NELFUND plans to start the loan application and issuing portal on May 24.

To apply for the loan, a student must provide their admission letter, national identification number, and bank verification number.

How to apply:

  • Log into the portal: The loan application portal is available on the NELFUND website ( Log on to the students loan portal on the website.
  • Create an Account: On the loan portal, create an account or log in using your existing credentials if you have created an account before.
  • Documents required: Applicants will require the Joint Admissions and Matriculation Board (JAMB) admission letter, the National Identification Number (NIN), and their Bank Verification Number (BVN).
  • Complete the application: Fill out the required information, including personal details, academic information, and financial need.
  • Submit your application: Review your application thoroughly before submission. Once submitted, you will receive a confirmation email with further instructions.

On Monday, Akintunde Sawyerr, NELFUND’s managing director, hosted a pre-application sensitisation meeting in Abuja.

He stated that the loan arrangement is intended to help poor students pay their tuition and stipends.

The MD stated that the scheme’s pilot phase is for students at federal institutions like as universities, polytechnics, colleges of education, and technical schools that have finished and uploaded their student data.

He stated that the loan application process has been simplified to make it easier for all qualified students enrolled in federal tertiary institutions.

Sawyerr stated that interested applicants can begin the application process as of May 24.

Sawyerr highlighted the application portal’s primary characteristics, stating that it is aimed to eliminate the need for actual contact between the loan applicant and NELFUND.

He stated that the portal is user-friendly and simplifies the application process for a student loan by providing an intuitive design that allows for speedy navigation.

He stated that the site has an online assistance function to assist students with inquiries or issues about the application process.

Sawyerr stated that the student loan plan is interest-free and offers flexible repayment choices that begin two years after finishing the National Youth Service Corps (NYSC), providing the candidate has secured work.


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