NELFUND Loan Open to All Eligible Nigerian Students – No Connection Needed

Are you worried that you might need “connections” to access the new student loan in Nigeria? Think again. The Nigerian Education Loan Fund (NELFUND) has made it clear that every eligible Nigerian student can apply for the student loan without knowing anyone in power or pulling strings. This groundbreaking announcement is giving hope to thousands of students across the country who feared that bureaucracy or favoritism might stand in their way.

In this post, we’ll break down what the NELFUND loan is all about, who is eligible, how to apply, and most importantly, why you don’t need any special connection to benefit from it.

The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyer, has emphasized that Nigerian students do not need personal connections or political influence to access the student loan scheme. Speaking during a sensitization programme at Ahmadu Bello University, Zaria, on Tuesday, August 5, 2025, Sawyer clarified that any eligible student with a JAMB registration number and admission into a recognized institution can apply. He also highlighted that the loan is interest-free, and repayment only begins two years after the completion of NYSC if the beneficiary is gainfully employed.

Speaking on Tuesday, August 5, 2025, at a sensitisation programme on the student loan scheme held at Ahmadu Bello University, Zaria, Sawyer explained that applicants only need to have an access institution and a JAMB registration number to apply.

Delivering his presentation titled “Understanding the NELFUND Student Loan Scheme: Access, Application and Support,” he stated that the loan is completely interest free. According to him, repayment begins only if the beneficiary secures employment two years after completing the National Youth Service Corps.

“If one applies and dies eventually, the loan is forgiven; and if one does not get a job five years after completion of NYSC, the loan is also forgiven,” Sawyer said. He further explained that if the beneficiary gets a job two years after NYSC, NELFUND will direct the employer to deduct 10 percent of the salary and remit it to the fund.

The NELFUND boss added that in cases where the loanee loses their job before completing repayment, the deductions will stop until the individual secures another job. He encouraged Nigerian students to support NELFUND, noting that even those who do not intend to apply immediately should still register because circumstances might change.

Sawyer commended the Federal Government led by President Bola Ahmed Tinubu for introducing the scheme to assist Nigerian students, describing the President as a strategic advocate of education and a strong supporter of the youth.

He said the establishment of NELFUND is a deliberate effort to ensure that no one is excluded from tertiary education due to financial challenges.

In his remarks, the Vice-Chancellor of Ahmadu Bello University, Prof Adamu Ahmed, described the student loan policy as one that would have a significant positive impact on tertiary education in Nigeria.

Represented by the Deputy Vice-Chancellor, Advancement, Research and Innovation, Prof Sanusi Aliyu Rafindadi, the Vice-Chancellor assured that the university would take the scheme seriously, as it aligns with the vision of President Bola Ahmed Tinubu to ensure inclusive access to higher education.

Prof Ahmed thanked the NELFUND Managing Director for visiting the institution to sensitise and enlighten students about the loan scheme and the application process.

The event was attended by the Dean of the Student Affairs Division, Prof Sahalu B Junaidu; a representative of the Registrar, Hajiya Basira Raji; the Assistant Dean, Student Affairs Division (Female), Prof Hadiza Tukur; and the Acting Staff Officer of the Division, Malam Jamilu Wada.

Who Is Eligible for the NELFUND Loan?

To ensure fairness and transparency, NELFUND has laid out clear eligibility criteria for all applicants. Here’s a breakdown:

You must be a Nigerian citizen.
You must have secured admission into a recognized public tertiary institution (university, polytechnic, or college of education).
Your family income must be less than ₦500,000 per year.
You must have a credible guarantor—either a civil servant, a lawyer, judicial officer, or a justice of peace.
You must not have been convicted of fraud or any felony.
You must not have defaulted on any previous loan.

You Don’t Need Any Connection to Apply

One of the most important messages from NELFUND is that the loan process is 100% transparent and connection-free. This means:

You don’t need to “know someone at the top.”
There are no backdoor applications or influence.
The process is fully automated and digital, with a strong focus on fairness and merit.

The government has promised to hold institutions and individuals accountable for any acts of favoritism or fraud in the process. Every eligible student has an equal opportunity to benefit.

How to Apply for the NELFUND Loan

Here’s a simple step-by-step guide on how to apply:

Visit the official NELFUND portal: https://nelf.gov.ng
Create an account using your email and valid phone number.
Fill in the required personal, academic, and financial information.
Upload necessary documents, including:
Submit your application and wait for confirmation.
Once approved, funds will be disbursed directly to your institution’s account.