The Nigerian Education Loan Fund (NELFUND) has officially opened its student loan application portal for the 2025/2026 academic session. The application window will remain open from October 23, 2025, to January 31, 2026, marking the second application cycle since the scheme's introduction last year.
Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, emphasized the importance of institutions updating and uploading verified records of both returning and newly admitted students onto the NELFUND Student Verification Portal. This critical step is necessary for students to successfully submit their applications and be eligible for the scheme.
NELFUND was launched in April 2024 with the objective of fostering sustainable higher education and functional skill development for Nigerian students.
As of the latest update, 282 institutions and over 850,000 students have been successfully onboarded onto the platform. The scheme has also facilitated more than 795,000 successful student loan applications.
As of September 26, 2025, NELFUND has disbursed over N107 billion across 231 institutions. This disbursement includes N61 billion allocated for institution fees and N46 billion for student allowances.
Before You Start Applying
The student loan is available to all Nigerian students enrolled in any public tertiary institution within Nigeria. The loan is interest-free and includes an option for monthly stipends for living expenses, which applicants can choose to include or exclude from their application.
The monthly stipend amount is N20,000 and is disbursed only during active academic sessions. Stipends will not be provided during school holidays.
All applications are processed online, eliminating the need for physical registration. While tuition fees are paid directly to the educational institutions, monthly stipends are deposited directly into the students' provided bank accounts.
Required Documents
- •JAMB registration number and admission letter
- •National Identification Number (NIN)
- •Bank Verification Number (BVN)
- •A commercial bank account
How to Onboard on the NELFUND Portal
To be eligible to apply for a student loan, you must first be onboarded onto the NELFUND platform. The onboarding process involves a verification stage designed to confirm your identity as a Nigerian student and your eligibility for the loan.
Step 1: Navigate to the official NELFUND website and select "Apply Now," followed by "Get Started."
Step 2: Enter your verification details, including your institution's name and matriculation number, to confirm if your student records have been uploaded to the portal. All public institutions are mandated to upload student data onto the NELFUND portal. If your record is not found, please contact the relevant authority at your institution.
Step 3: Authenticate your identity with JAMB by selecting "Verify with JAMB" and providing your JAMB details as requested. If your National Identification Number (NIN) is not registered with JAMB, you will need to provide your NIN for validation.
Step 4: Enter your email address and create a secure password. Confirm your password and click "Create Account." You will receive an email from NELFUND with a link to verify your email address; click this link to activate your account.
Step 5: After verifying your email, update your contact information by providing your current phone number, full residential address, state, and local government area of residence. Then, click "Proceed to Educational Details."
Step 7: Select your higher institution from the provided list and accurately enter your matriculation number. Click "Proceed to Account Details."
Step 8: Enter your Bank Verification Number (BVN), select your bank from the dropdown menu, and input your account number. Click "Save Changes" to finalize your profile setup.
Applying for a Student Loan
Once your profile is verified and set up, you can proceed to apply for a student loan.
Step 1: Log in to your NELFUND account and click on the "Request for Student Loan" button, typically located in the top right corner.
Step 2: Specify your loan requirements. If you need funds for personal upkeep, select the relevant checkbox. If you only require assistance with institutional charges, you can proceed without selecting the upkeep option. Click "Continue" to move forward.
Note: It is not possible to apply for upkeep funds without also applying for a tuition fee loan. However, you can apply for tuition fees and choose not to apply for upkeep.
Step 3: Upload a scanned copy of your admission letter, which is mandatory. You also have the option to upload your student ID and the institution's invoice for tuition fees. Acknowledge the policy and declaration by checking the appropriate box, then click "Continue."
Step 4: Review the student loan overview carefully. Agree to the terms and conditions and the Global Standing Instruction (GSI) Mandate by checking the respective boxes. Finally, click "Submit Application" to complete your loan application.
After submitting your application, you can monitor its status on your dashboard. To check the status, navigate to the "Loans" section. You will be notified if your application is successful. If your application is not approved, you can contact NELFUND via the email address provided on their website.
Reasons for Loan Denial
Applicants may be denied access to a student loan under the following circumstances:
- •If it is proven that the applicant has defaulted on any previous loan granted by a licensed financial institution.
- •If the applicant is found guilty of submitting fake or fraudulent documents, or has been dismissed by a school authority for examination malpractice.
- •If the applicant has been convicted of fraud, forgery, drug offenses, cultism, felony, or any offense involving dishonesty.
Note: For existing users who wish to be reconsidered for a loan in a subsequent session, it is necessary to log in to your dashboard and reapply for the new session according to NELFUND's calendar.
Repayment Process
According to NELFUND, loan repayment is due two years after the completion of the National Youth Service Corps (NYSC).
Ten percent (10%) of the beneficiary's salary will be deducted at source by their employer. Self-employed beneficiaries are required to remit ten percent (10%) of their monthly profit to the Fund.
Beneficiaries also have the option to repay more than the statutory 10% monthly deduction if they choose. If a beneficiary is unemployed at the time repayment is due, they must notify NELFUND every three months through a sworn court affidavit.
Loan forgiveness is only applicable in the event of the beneficiary's death. Additionally, loans may be written off for individuals with documented cases of severe or permanent disabilities.