HOW TO APLY FOR THE NELFUND STUDENT LOAN: A STEP-BY-STEP GUIDE
Are you searching for financial aid to fund your education? The NELFUND Student Loan is designed to provide Nigerian students with the necessary funds to complete their studies. In this guide, we will walk you through the entire process of applying for a student loan via NELFUND, ensuring you meet all the requirements and complete the application without any hassle.
1. Creating An Account For Student Loan Application
The first step to applying for the student loan is creating an account on the NELFUND platform. This step is crucial because it gives you access to the application form and lets you track the status of your loan. Here’s how to get started:
Step 1: Visit the NELFUND website
Go to the official NELFUND Student Loan website by visiting http://nelf.gov.ng.
Step 2: Click on “Apply Now”
On the homepage, locate the “Apply Now” button. This will direct you to the next phase of the application, where you can start entering your details for the student loan
Step 3: Click on “Get Started”
After clicking “Apply Now,” you’ll see the “Get Started” option. This will lead you to the eligibility verification page, where you need to answer a few questions.
Step 4: Answer Eligibility Questions
You’ll be prompted to answer a simple question to verify that you are eligible for the student loan. Select “Yes, I am a Nigerian” to proceed. This step ensures that only Nigerian citizens, who are the intended beneficiaries of the student loan, are applying.
Step 5: Verify Your Educational Information
At this stage, you will need to select your institution from a dropdown menu. After selecting your school, enter your matriculation number to confirm that your institution has uploaded your details. This step is important because it helps NELFUND verify that you are indeed a current student eligible for the student loan
Step 6: JAMB Verification
Next, you’ll need to verify your JAMB details by clicking the “Verify with JAMB” button. You will be required to enter your JAMB number and details. If your National Identification Number (NIN) is not yet linked to your JAMB profile, there will be a separate field where you can input your NIN for verification. This ensures that your identity and educational records are linked correctly for the student loan process.
Step 7: Create an Account
You’re now ready to create your NELFUND account. Enter your email address and choose a secure password. You’ll need to confirm your password to ensure it matches. Click “Create Account” to proceed. This account will allow you to manage your student loan application, track its status, and receive notifications about your loan.
Step 8: Verify Your Email
Once you’ve submitted your account details, NELFUND will send you an email containing a verification link. Check your inbox (and possibly your spam folder) for this email. Click the verification link to confirm your email address. This is an essential step as it completes the process of setting up your account, allowing you to move forward with the student loan application.
2. Completing Your Profile for the Student Loan
After successfully creating your account, the next step is to complete your profile. This is where you provide additional personal and educational details that will be used to process your student loan application.
Step 1: Log in to Your Account
Head back to the NELFUND portal and log in using the email address and password you used to create your account. This will take you to your dashboard, where you can begin updating your profile.
Step 2: Update Your Contact Details
Click on “Proceed to Contact Details” and enter your current contact information, including your phone number, full residential address, state of residence, and local government area. These details are necessary because they will be used to communicate important updates regarding your student loan application.
Step 3: Enter Educational Details
After providing your contact information, you will be asked to update your educational details. Select your higher institution from the dropdown list and input your matric number. This helps the system cross-check your eligibility for the student loan based on your enrollment in an accredited institution.
Step 4: Provide Your Bank Verification Number (BVN) and Bank Account Details
To receive your student loan, NELFUND requires that you provide your Bank Verification Number (BVN) for identity verification. Select your bank from the provided list and enter your account number. This is critical because, once approved, your student loan funds will be deposited directly into this account. Double-check these details to avoid any errors or delays in receiving your loan.
Step 5: Save Changes
After entering all your personal, educational, and bank details, click “Save Changes” to complete your profile. Your profile is now fully updated, and you can proceed to apply for the student loan
3. Submitting Your Student Loan Application
Now that your profile is complete, you can proceed with applying for the student loan. Follow these steps to submit your loan request:
Step 1: Request the Student Loan
On the dashboard, you’ll find a button labeled “Request for Student Loan.” Click on it to initiate your loan application. This is where you will choose the type of student loan you need.
Step 2: Select Loan Type
You’ll be presented with two loan options: upkeep and institution fee click “Continue.”
Step 3: Upload Supporting Documents
The next step is uploading the required documents to support your student loan application. The admission letter is mandatory, while your student ID and institution invoiceare optional but recommended to ensure faster processing. These documents serve as proof of your current academic status and eligibility for the student loan
Step 4: Agree to the Policy and Declaration
Review the policy and terms associated with the student loan and then check the box indicating that you agree with the declaration. Click “Continue” to proceed.
Step 5: Review Loan Terms and Conditions
Before finalizing your application, you’ll be asked to review the loan terms. You must agree to the Terms & Conditions and the GSI (Global Standing Instruction) Mandate, which likely involves consent for deductions from your bank account in case of non-payment. After agreeing to these terms, click “Submit Application” to complete the process.
Step 6: Check Loan Status
After submitting your student loan application, you can track its status by navigating to the “Loans” section on your dashboard. This will show you whether your application is pending, approved, or requires additional action.
Frequently Asked Questions (FAQs) on Student Loan Application
1. What is the NELFUND Student Loan?
The NELFUND Student Loan is a financial assistance program aimed at Nigerian students enrolled in accredited higher institutions. The loan covers tuition fees, personal expenses, or both, depending on the applicant’s needs.
2. How do I apply for the NELFUND Student Loan?
You can apply for the student loan by following the steps outlined in this guide. Start by creating an account on the NELFUND website, complete your profile, and submit your application.
3. What documents are required for the application?
To apply for the student loan you’ll need to upload your admission letter. Additional documents, like your student IDand institution invoice, are optional but can help speed up the approval process.
4. How do I check the status of my student loan application?
You can track the status of your student loan application by logging into your account and clicking on the “Loans” tab. This will display the current status of your application.
Team Osun The Positive Voice
About Author
